{"id":94346,"date":"2018-07-26T09:28:00","date_gmt":"2018-07-26T09:28:00","guid":{"rendered":"http:\/\/mostafa.openonline.co.uk\/?guid=a30c8329b3c962ad2d584a830b7d77e7"},"modified":"2018-07-26T09:28:00","modified_gmt":"2018-07-26T09:28:00","slug":"press-release-top-football-agent-scores-1-2-million-tax-avoidance-own-goal","status":"publish","type":"post","link":"https:\/\/mostafa.openonline.co.uk\/?p=94346","title":{"rendered":"Press release: Top football agent scores \u00a31.2 million tax avoidance own goal"},"content":{"rendered":"
\n

Former football agent Jerome Anderson has lost his \u00a31.2 million tax battle with HM Revenue and Customs (HMRC<\/abbr>).<\/p>\n

The case, heard at the Upper Tribunal, shows that Anderson and 8 others failed in their attempt to avoid large amounts of tax.<\/p>\n

The scheme involved investments in the recruitment and training of young footballers at the Bafana Soccer Academy in South Africa.<\/p>\n

Anderson attempted to use this investment to claim a \u00a33 million artificial trading loss to reduce his tax bill by huge amounts of money.<\/p>\n

The tribunal found that Anderson\u2019s activities were more like those of an investor, and this didn\u2019t show that he was trading.<\/p>\n

This decision means he could not claim a trading loss and tax was due.<\/p>\n

Penny Ciniewicz, HMRC<\/abbr>\u2019s Director General for Customer Compliance, said:<\/p>\n

\n

The court has made it clear that these schemes don\u2019t work.<\/p>\n

Our public services rely on everyone paying their taxes and it\u2019s unfair for people not to pay their share.<\/p>\n

Anyone who\u2019s caught up in tax avoidance and wants to put it behind them should come forward now and settle what they owe.<\/p>\n<\/blockquote>\n

This latest victory continues HMRC<\/abbr>\u2019s excellent record of winning 9 out of 10 tax avoidance cases taken to court, with many more settling what they owe before reaching that stage.<\/p>\n

Further information<\/h3>\n

You can read the Upper Tribunal decision<\/a>.<\/p>\n

This was the first case to consider section 74B of the Income Tax Act 2007, an anti-avoidance provision that denies an individual any sideways loss relief claimed where that individual carries on a trade in a \u2018non-active\u2019 capacity and where that loss arises in connection with tax avoidance arrangements.<\/p>\n

An image of Penny Ciniewicz, Director General of HMRC<\/abbr>\u2019s Customer Compliance Group, is available on Flickr<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Jerome Anderson was investing in the recruitment and training of young players at a football academy in South Africa, but not paying the tax that was due.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"_links":{"self":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/94346"}],"collection":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=94346"}],"version-history":[{"count":1,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/94346\/revisions"}],"predecessor-version":[{"id":94361,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/94346\/revisions\/94361"}],"wp:attachment":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=94346"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=94346"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=94346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}