HMRC v IGE Investments Ltd and others [2020] EWHC 2121 (Ch) (31 July 2020) is an immensely complex procedural decision about the way in which HMRC’S case against a large international group should be argued. The background is HMRC’s attempt to rescind a settlement reached with the group relating to the anti-arbitrage rules in F(No.2)A 2005 on the basis that the group had not provided adequate disclosure. The judgment does not consider whether or not the rules apply: that will be for a later hearing. What was in point is whether HMRC would be allowed to run the argument that the company had deliberately failed to disclose the full picture when reaching the settlement. After much legal wrangling the judge gave HMRC that permission. It is important to note that this is not a finding that there was deliberately non-disclosure: merely...
