May 2012
HMRC hits headline footballers hard
April’s landmark High Court case against Eclipse Film Partners No 35 LLP, which saw them prevented from gaining £117m in tax relief, demonstrates to us that HMRC are hardening their attitude further on tax avoidance schemes. The partnership included football manager Sir Alex Ferguson alongside other wealthy members who were claiming tax relief on loans […]
Superdry left high and dry
Whilst us accountants may rely on technology, software and intensive training to produce results for clients, the human element cannot (and should never) be detached from our work. Unfortunately for clothing retailer SuperGroup, owner of the Superdry brand, the intervention of a human led to “arithmetic errors” in its forecasting, resulting in a £2.5m shortfall […]