Bhaur & ors v Equity First Trustees (Nevis) Ltd & ors [2023] WTLR 851

Wills & Trusts Law Reports | Autumn 2023 #192

In March 2007 Safe Investments Management UK (Safe), an unlimited company, transferred its shares in Gooch Investment (Gooch) to Equity Trust (BVI) Ltd, a trust company (2007 transfer), to be held on the terms of a settlement for the benefit of qualifying employees of Safe (First Staff Remuneration Trust). This transfer followed the transfer of interests in UK business assets (the estate) from the first and second appellants (Mr and Mrs Bhaur) to Safe and from Safe to its subsidiary Gooch. All these transfers took place as part of a tax scheme (scheme) promoted by Mr O’Toole, who operate...

Strategic Branding Ltd v Commissioners for HMRC WTLR(w) 2023-02

Wills & Trusts Law Reports | Web Only

HMRC v Fisher & ors WTLR(w) 2021-14

Wills & Trusts Law Reports | Web Only

Dunsby v Commissioners for Her Majesty’s Revenue and Customs [2021] WTLR 157

Wills & Trusts Law Reports | Spring 2021 #182

This was an appeal concerning a tax avoidance scheme designed to allow shareholders in private companies to extract profits without paying income tax on them.

Prior to entering into the scheme, T was sole director and shareholder of M Ltd. The scheme had three steps:

  1. (1) On 11 March 2013, the board of directors of M Ltd (ie T as sole director) and T resolved to approve the creation of a new class of ‘S’ ordinary shares and the necessary amendments to M Ltd’s articles of association. On the same day, M Ltd (by resolution of T as sole shareholder) created the new S clas...

Estera & anr v Singh & ors [2020] WTLR 127

Wills & Trusts Law Reports | Spring 2020 #178

The Petitioners brought an unfair prejudice petition against the First Respondent in respect of their management of the Fourth Respondent (the Company). Following a liability trial, the First Respondents and the Company were ordered to purchase the Petitioners’ shares in the Company at a price to be determined. A quantum trial followed in which the purchase price was determined and an initial sum to be paid on account of the full price within 28 days, with the balance to be paid within 6 months. The wording of the order was left to the parties.

A purchase from the First Petitioner...

Shiner v The Commissioners for HM Revenue & Customs
 [2018] WTLR 649

Wills & Trusts Law Reports | Summer 2018 #172

Facts


DS and IS were at all material times resident in the UK for tax purposes and were beneficially entitled to the income from MOH, an English property development company of which they were the shareholders and directors. On advice, they used a tax avoidance scheme that took advantage of the provisions of the 1955 UK-Isle of Man double tax treaty (DTT). These provisions exempted the industrial or commercial profits of an Isle of Man (IOM) enterprise, which could include a partnership, from UK tax unless it was engaged in trade or business in the UK through a permanent establis...