Landmark Supreme Court ruling on 'round the world tax scheme' puts HMRC on notice

clock • 5 min read
Landmark Supreme Court ruling on 'round the world tax scheme' puts HMRC on notice

The UK's Supreme Court on 2 July rejected HMRC's approach to issuing follower notices over tax avoidance schemes in the case of R (on the application of Haworth) v HMRC. Haworth had implemented a "round-the-world-scheme" designed to avoid a charge to capital gains tax to the tune of nearly £9m on the sale of the shares in his company. A trust held the shares and the scheme involved appointing trustees in Mauritius who sold the shares and then appointed UK resident trustees in the same t...

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