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Comments to Press in response to the Arctic Systems Case
by John Kinsella at MGI Watson Buckle, Bradford

It is very likely HMRC through the Government will try to legislate against the decision. I would not expect the legislation to be retrospective – the government would not be able to stand up to the backlash – instead it will probably come into force next year.

It’s difficult to guess just what legislation could be brought in to counteract ‘Arctic’ type tax planning. However this may be the opportunity to introduce National Insurance on private company dividends.*

John Kinsella - Tax Partner for MGI
Watson Buckle LLP Chartered Accountants

* Comments published on Accounting Web and in October edition of Growing Business.