NT Advisors wins case over TOGC contingency fees

HMRC has lost what is likely to be the first round in a case relating to input tax recovery on invoices covering contingency fees charged by barristers. The appellant was NT Advisors (TC06061), which is well known for creating tax avoidance schemes. This entity was a successor to an earlier legal entity which had transferred its business and cases to the appellant. In effect, this involved the replacement of one set of investors by another, by means of a transfer of a going concern to a new entity.