12 Hrs
Source:
The Guardian
London office, empty boxes, £1bn tax gain
A court ruling has ended a widespread tax avoidance scheme involving the deliberate "box shifting" of unoccupied London office buildings to evade business rates. The scheme, used by property owners and rate mitigation companies, had cost local authorities over £1 billion. The Court of Appeal determined that such arrangements do not constitute genuine occupation and are therefore not eligible for rate relief, marking a significant victory for local governments in safeguarding revenue.
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