Stagecoach loses court case over £11m tax avoidance scheme

Company’s elaborate arrangement involved shifting money between companies within the group but judge ruled that it fell foul of legislation A complex tax avoidance scheme used by transport group Stagecoach to wipe £11m off its tax bill has been defeated in the tax courts.In a 56-page ruling a judge, Gordon Reid QC, found that the elaborate avoidance scheme, devised with the help of tax experts at KPMG, fell foul of tax avoidance legislation. Continue reading...