13 February 2025
Rectification in a tax context
Cases such as Racal and Allnutt ostensibly laid down challenges for taxpayers seeking to rectify transactions entered into to achieve tax advantages. In particular, it has sometimes been said that rectification would not be available where a document had failed to obtain a tax advantage or if the only effect of rectification might be to secure a tax benefit.
However, more recent case law demonstrates that the law is not so severe: the courts are adopting an increasingly accommodating approach where rectification is sought for tax purposes and have demonstrated a willingness to save taxpayers from mistakes.
Read Ben Elliott and Arthur Wong‘s article inTax Journal here.
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