Taxation logo taxation mission text

Since 1927 the leading authority on tax law, practice and administration

Say hello, waive goodbye

MARK MCLAUGHLIN considers the application of the income tax anti-avoidance rules on settlements to dividend waivers


  • Dividend waivers are not directly referred to by the settlements legislation.
  • When is a waiver a bounteous arrangement?
  • An arrangement can be a single transaction.
  • HMRC's approach to dividend waivers has been inconsistent.

They think it's all over … it is now!

This will be a familiar quotation to football loving readers of Taxation (or the more senior ones anyway) being the famous words from Kenneth Wolstenholme's BBC TV commentary in the closing moments of the 1966 World Cup  in which England beat West Germany 4-2 after extra time to win the final.

When I hear that quotation these days it is tempting to draw an analogy in tax terms to the Arctic Systems case (Jones v Garnett [2007] STC 1536) regarding the income tax anti-avoidance provisions on settlements (ITTOIA...

If you or your firm subscribes to, please click the login box below:

If you are not a subscriber but are a registered user or have a free trial, please enter your details in the following boxes:

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 '' for further assistance.

back to top icon