Source: All England Reporter
Publisher Citation: [2006] All ER (D) 336 (Dec)
Neutral Citation: [2006] EWHC 3350 (Ch)
Court: Chancery Division
Judge:

Sir Andrew Morritt C
Representation Jonathan Peacock QC (instructed by DLA Piper Rudnick Gray Cary UK LLP) for the appellant.
  David Ewart QC (instructed by the Solicitor for Revenue & Customs) for the respondents.
Judgment Dates: 21 December 2006

Catchwords

Capital gains tax - Disposal of assets - Deferred consideration - Exchange of shares in company for loan stocks - Taxpayer non-resident in United Kingdom when redeeming loan stock - Whether share exchange effected for bona fide commercial reasons - Whether exchange part of a scheme or arrangements of which main purpose, or one of the main purposes, is the avoidance of liability to capital gains tax - , s 137.

The Case

On the true construction of s137 of the the exchange in the instant case was part of a scheme or arrangement of which a main purpose was the avoidance of liability to capital gains tax.

Practice Areas

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