Source: All England Reporter
Publisher Citation: [2012] All ER (D) 348 (Oct)
Neutral Citation: [2012] UKUT 362 (TCC)
Court: Upper Tribunal (Tax and Chancery Chamber)
Judge:

Mr Justice Newey and Judge Greg Sinfield

Representation Julian Ghosh QC and Elizabeth Wilson (instructed by Mayer Brown International LLP) for the taxpayers.
  Malcolm Gammie QC (instructed by the General Counsel and Solicitor to Revenue and Customs) for the Revenue.
Judgment Dates: 19 October 2012

Catchwords

Corporation tax - Taxpayer companies being involved in scheme to avoid capital gains tax - Revenue and Customs Commissioners (the Revenue) submitting that scheme not avoiding tax liability - First-tier Tribunal (Tax Chamber) (FTT) ruling, inter alia, that tax charge being deferred - Both parties appealing - Whether FTT erring - .

The Case

Corporation tax Taxpayer companies being involved in scheme to avoid capital gains tax. The Upper Tribunal (Tax and Chancery Chamber) in allowing an appeal from the Revenue and Customs Commissioner and dismissing an appeal from the taxpayer group of companies, held, inter alia, that a capital gains tax mitigation scheme involving the taxpayers had not succeeded in avoiding liability to tax.

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