23 November 2021

Dunsby V HMRC; (UT)

The Upper Tribunal released its Decision in Mark Dunsby v The Commissioners for Her Majesty’s Revenue and Customs.

Laura Poots acted for HMRC in this case concerning a scheme designed to allow shareholders in private companies to extract profits without paying income tax, by taking advantage of the settlements legislation. The Upper Tribunal found that the shareholder was taxable on the basis that he received a distribution, or in the alternative under the settlements legislation or transfer of assets abroad regime. The taxpayer’s appeal was dismissed.

To view the judgment, click here.