In this article, we consider a recent case which is of considerable interest to tax practitioners given its focus on the income tax consequences of correcting mistakes in bilateral contracts. Read more
In Mackay v Wesley [2020] EWHC 1215 (Ch), the Claimant, who was instructed by her father to become a trustee of a family trust as part of a tax scheme, failed to obtain from the High Court (1) an order rescinding her appointment as trustee and/or (2) a declaration that she never became a trustee. Read more
In Littlewoods Ltd and others v HMRC [2017] UKSC 17, the Supreme Court delivered a controversial decision in favour of HMRC, resulting in the failure of the taxpayer's claim for compound interest of £1.2 billion.Read more
