Oliver Marre (5 Stone Buildings) considers the Court of Appeal decision and its implications going forward.
The Court of Appeal has found in favour of HMRC in the taxpayers’ appeal against the decision of the Upper Tribunal (UT) in the case of Clipperton v HMRC [2024] EWCA Civ 180. The case concerns the interaction of the legislation providing for the taxation of dividends from UK-resident companies and the settlor-interest trust provisions – the ‘settlements code’ – found in ITTOIA 2005.
The result of the appeal is not itself particularly surprising given the Court of Appeal’s focus from the first paragraph of the judgment of Nugee LJ on the fact that it concerned a marketed avoidance scheme; and the tribunals’ earlier application in that context of the Ramsay doctrine. So while the judgment of Nugee LJ (with whom Lewison and Newey LLJ agreed) contains some...
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Oliver Marre (5 Stone Buildings) considers the Court of Appeal decision and its implications going forward.
The Court of Appeal has found in favour of HMRC in the taxpayers’ appeal against the decision of the Upper Tribunal (UT) in the case of Clipperton v HMRC [2024] EWCA Civ 180. The case concerns the interaction of the legislation providing for the taxation of dividends from UK-resident companies and the settlor-interest trust provisions – the ‘settlements code’ – found in ITTOIA 2005.
The result of the appeal is not itself particularly surprising given the Court of Appeal’s focus from the first paragraph of the judgment of Nugee LJ on the fact that it concerned a marketed avoidance scheme; and the tribunals’ earlier application in that context of the Ramsay doctrine. So while the judgment of Nugee LJ (with whom Lewison and Newey LLJ agreed) contains some...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
