Research highlights HMRC crackdown on insurance sectors

The key findings of the Lovells Tax Disputes Survey 2008 are:

Businesses in the finance, banking and insurance sectors are at a significantly higher risk of ending up in court than other industry sectors - these accounted for 34% of all reported cases in which Leading Counsel were instructed. 22% of reported cases in which HMRC instructed Leading Counsel in disputes with businesses in the Banking, Finance and Insurance sectors were related to VAT issues. Claims HMRC are consistently