Oliver Marre (5 Stone Buildings) examines a recent Upper Tribunal decision that demonstrates a modern approach to both the dividend taxing provisions and the settlement provisions found in ITTOIA 2005.
It can be tempting to consider that direct tax litigation should be seen as falling into two distinct categories: avoidance scheme cases on the one hand and everything else on the other. The Upper Tribunal (UT)’s recent decision in Dunsby v HMRC [2021] UKUT 289 (TCC) is however an example of when important guidance on the construction and application of a wide variety of statutory provisions can emerge from a case arising in the context of a scheme.
The arrangements in question were according to the UT’s judgment intended to allow shareholders in private companies with distributable profits to receive those profits free of income tax. The idea was that the company’s profits would...
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Oliver Marre (5 Stone Buildings) examines a recent Upper Tribunal decision that demonstrates a modern approach to both the dividend taxing provisions and the settlement provisions found in ITTOIA 2005.
It can be tempting to consider that direct tax litigation should be seen as falling into two distinct categories: avoidance scheme cases on the one hand and everything else on the other. The Upper Tribunal (UT)’s recent decision in Dunsby v HMRC [2021] UKUT 289 (TCC) is however an example of when important guidance on the construction and application of a wide variety of statutory provisions can emerge from a case arising in the context of a scheme.
The arrangements in question were according to the UT’s judgment intended to allow shareholders in private companies with distributable profits to receive those profits free of income tax. The idea was that the company’s profits would...
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:
