18 August 2020

Dunsby v HMRC; (FTT)

The First-tier 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 First-Tier Tribunal found that the shareholder was taxable under the settlements legislation, or in the alternative under the transfer of assets abroad regime, and the taxpayer’s appeal was dismissed.

To see the approved decision, click here.