.png)
.png)
Davies v Hicks; RAL (CI) Ltd and others v CCE; Thorogood v Inland Revenue; MyTravel; Doshi (SpC 469)
Not applicable
The taxpayer held a substantial number of shares in a publicly listed company. The shares had low capital gains tax values. A scheme designed to take advantage of the identification rules in TCGA 1992 s 106A and a double taxation agreement with Mauritius proceeded as follows:
- the taxpayer created a discretionary settlement of which he was a beneficiary and which had UK resident trustees;
- the taxpayer transferred 100 000 shares to the trust;
- the shares were subsequently sold on the open market;
- on the same day as the sale the UK trustees retired and were replaced with a Mauritius resident trust company;
- the next day the Mauritius trustee bought a number of shares equal to the net proceeds of the sale;
- the...
Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
