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FTT applies Ramsay to defeat loss creation scheme (Padfield v HMRC)

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Published on: 14 January 2021
Published by a LexisNexis Tax expert

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  • Case details

Article summary

Tax analysis: In Padfield v HMRC, the First-tier Tax Tribunal (FTT) held that arrangements entered into by the taxpayers fell ‘fairly and squarely’ within the Ramsay principle and therefore did not create the losses that they were designed to achieve.

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Jurisdiction(s):
United Kingdom

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