Futter v HMRC and Pitt v HMRC: an offshore perspective
On 9 May 2013 the Supreme Court of England and Wales handed down its judgment in the jointly heard appeals of Futter v HMRC and Pitt vHMRC UKSC 26. The judgment has provided the courts of England and Wales with certainty on the so-called ‘rule in Hastings-Bass’ and on the setting aside of voluntary dispositions on the grounds of mistake.
The judgment does not have a direct impact upon offshore jurisdictions, but those working in the fiduciary industry will inevitably wish to take note of the Supreme Court’s decision, of the potential for offshore courts to follow suit and of the possible legislative responses. This article seeks to explain the key findings of the Supreme Court and what they may mean for those working offshore…
If you are registered and logged in to the site, click on the link below to read the rest of the Appleby briefing. If not, please register or sign in with your details below.
News from Appleby
News from The Lawyer
Briefings from Appleby
Incorporation describes the process of forming a new legal entity (a company) that is recognised at law as a separate legal person.
This feature publication aims to tap into the issues facing high-net-worth individuals around the globe, and investigate the themes and challenges affecting this elite group.
Analysis from The Lawyer
Offshore law firms have long supplemented their legal offerings with fiduciary business, but will that model last?
Business is booming in the Isle of Man, a small jurisdiction that thinks big