An arrangement which had the effect of mitigating tax by a pre-ordained series of steps was nevertheless upheld as valid. Transactions were not caught by anti-avoidance provisions, where they were not in fact one composite whole.
Citations:
Gazette 01-Mar-1995, Times 07-Feb-1995
Statutes:
Income and Corporation Taxes Act 1988 239
Jurisdiction:
England and Wales
Corporation Tax, Taxes Management
Updated: 31 March 2022; Ref: scu.84733