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IRC v. McGuckian [1997] STC 908 (H.L.)

The Ramsay principle, as stated in Furniss v. Dawson [1984] STC 153, allows tax legislation to applied to the substance of a transaction. Steps inserted artificially with no commercial (business) purpose other than tax avoidance may be disregarded. Whilst the steps inserted into a scheme may have some business effect, the question is not what is the effect of inserting the artificial steps but what is their purpose.Andrew Park KC appeared for the Inland RevenueSee also Article by David Goldberg Q.C.

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Gray’s Inn Tax Chambers are delighted to announce Michael Firth is to be appointed King’s Counsel as per the new Silk appointments announced on Friday 19th January 2024.
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