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HMRC v Fisher and others

HMRC v Fisher and others [2021] EWCA Civ 1438 (6 October 2021) is a Court of Appeal hearing on the transfer of assets abroad legislation (the ‘TOAA rules’) in ITA 2007 Part 13 Chapter 2. The court allowed HMRC’s appeal in part (as regards two of the taxpayers) finding that the UT had not been entitled to interfere with the FTT’s conclusions that: they were quasi-transferors for the purposes of the transfer of assets abroad legislation; there was no requirement for income tax to be avoided for the regime to apply; the motive defence was not available to them; the legislation was not incompatible with EU law; none of the relevant income was too remote from the transfer of the business; and assessments were not defective. However the court dismissed the appeal as regards one other of the individual taxpayers finding that the UT had been correct to think...

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