No harm, no foul: Court of appeal analyses the "prohibited purpose" for section 423 claims

Lucy Trott and Tim Carter of Stevens & Bolton share that the Court of Appeal has found that the operation of a tax avoidance scheme to avoid a tax liability for disguised remuneration was not a transaction defrauding creditors, since the purpose of the scheme was to avoid any liability to HMRC arising, rather than to harm its ability to pursue a creditor claim.

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