{"id":32640,"date":"2016-03-08T07:21:35","date_gmt":"2016-03-08T07:21:35","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=32640"},"modified":"2016-03-08T07:21:35","modified_gmt":"2016-03-08T07:21:35","slug":"has-kpmg-changed-yet","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2016\/03\/08\/has-kpmg-changed-yet\/","title":{"rendered":"Has KPMG changed yet?"},"content":{"rendered":"<p>The <a href=\"http:\/\/www.theguardian.com\/business\/2016\/mar\/07\/stagecoach-loses-court-case-over-11m-tax-avoidance-scheme\" target=\"_blank\">Guardian has reported<\/a>:<\/p>\n<blockquote><p>A complex tax avoidance scheme being used by transport group Stagecoach to wipe \u00a311m off its tax bill has been defeated in the tax courts.<\/p>\n<p>In a 56-page ruling, a judge, Gordon Reid QC, found that the scheme, devised with the help of tax experts at KPMG, fell foul of tax avoidance legislation.<\/p>\n<p>The scheme involved shifting money between companies within the Stagecoach\u00a0group to create a large loss in one of them without a corresponding gain in any other.<\/p><\/blockquote>\n<p>I know what will be said: <a href=\"http:\/\/www.financeandtaxtribunals.gov.uk\/judgmentfiles\/j8863\/TC04866.pdf\" target=\"_blank\">this was an old scheme<\/a> and so part of history because everything has changed now.<\/p>\n<p>Except it wasn't: this dates from 2011 and shows that KPMG were still manufacturing tax avoidance schemes at the time.<\/p>\n<p>The scheme was rightly struck down: it sought an artificial tax loss. But three questions remain.<\/p>\n<p>How many more such schemes have yet to emerge?<\/p>\n<p>Has KPMG stopped this practice now, and how do we know?<\/p>\n<p>How can we be sure it will not happen again?<\/p>\n<p>KPMG's comments would be welcome.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Guardian has reported: A complex tax avoidance scheme being used by transport group Stagecoach to wipe \u00a311m off its tax bill has been defeated<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2016\/03\/08\/has-kpmg-changed-yet\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[],"class_list":["post-32640","post","type-post","status-publish","format-standard","hentry","category-kpmg"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/32640","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=32640"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/32640\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=32640"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=32640"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=32640"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}