Andrew Chappell v The Commissioners for HM Revenue and Customs: [2014] UKUT 0344 (TCC)
Upper Tribunal Tax and Chancery decision of Mr Justice Simon and Judge Sinfield on 28 July 2014.
Read the full decision in .
INCOME TAX – tax avoidance scheme – whether there was transfer of overseas securities and payment of manufactured overseas dividend when relevant statutory provisions construed purposively and transactions viewed realistically - no – whether annual payment not payable under deduction and retention of income tax was deductible for purposes of income tax - no – if payment deductible as payment of manufactured overseas dividends treated as annual payments within section 349(1) ICTA 1988 whether Section 3 ICTA 1988 restricts tax relief to higher rate – yes – appeal by Appellant dismissed and appeal by Respondents allowed.