Following the collapse of a test case prosecution of an individual investor in a tax avoidance scheme the CPS have announced that they will not be bringing any further charges against other investors in a landmark case.
In R v C charges of Fraud by False Representation i.e. of attempting to dishonestly obtain a tax advantage contrary to s.16A of the Taxation of Chargeable Gains Act 1992 were brought against a BSQ client.
The case is novel as the accused was an individual tax payer subscriber and not the professional advisers who were the architects of the scheme.
BSQ partner Daniel Godden was instructed.
More details of the case will be revealed in the BSQ website next week