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Futter & Pitt: the Hastings-Bass principle

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The Supreme Court has comprehensively reviewed the Hastings-Bass principle in Futter v HMRC, Pitt v HMRC. The principle remains an important remedy, but it is discretionary and will not apply where the applicants have properly relied on professional advice which has turned out to be incorrect. In the future, the court is likely to refuse to use its discretion to provide relief in cases involving tax avoidance.

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