[HMRC Tax Bulletin 30, August 1997]

Parinv (Hatfield) Ltd v IRC [[1996] BTC 8,062] – Off-Shore Declaration Of Trust Ineffective To Avoid Ad Valorem Duty On Subsequent Transfers

This case concerned the effectiveness of an off-shore declaration of trust in avoiding ad valorem stamp duty on subsequent transfers. The High Court held that the device was ineffective. The taxpayer has lodged an appeal. In the meantime, the Stamp Office will continue to apply the law on the basis of the High Court’s decision.

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