Market leading insight for tax experts
View online issue

A Bhaur and others v Equity First Trustees (Nevis) Ltd and others

In A Bhaur and others v Equity First Trustees (Nevis) Ltd and others [2021] EWHC 2581 (Ch) (28 September 2021) the High Court held that declined the Bhaur family’s application to set aside an employee benefit trust (EBT) scheme on the grounds of mistake and to restore to the Bhaur family the assets paid or transferred into the scheme.

HMRC did not wish to participate in the case. The scheme itself was highly complex and went through a number of iterations but essentially it amounted to using an EBT structure as a vehicle for family wealth preservation. It sought to take advantage of the inheritance tax exemptions in IHTA 1984 s 13 (dispositions by close companies for benefit of employees) and s 86 (trusts for benefit of employees). The scheme had come under HMRC investigation. Whilst it was not for the court to determine the tax implications of the scheme...

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

If you do not subscribe but are a registered user, 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 article in full.
Please reach out to customer services at +44 (0) 330 161 1234 or '' for further assistance.