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Land Securities avoidance ruling

‘The Times reports that Land Securities, the UK’s largest property company, tried shelter £200m through a tax avoidance scheme run by Morgan Stanley through the Cayman Islands.

It says that Upper Tier Tax Tribunal this month struck out the “ingenious” scheme, having found that its “material benefit” was to avoid tax. The paper notes that the ruling is the Revenue’s eighth consecutive court victory against tax avoidance schemes.’

Source: The Times

Myfanwy Neville

Partner: Property and Construction, Sustainability and ESG

T +44 (0)20 8922 9376
E Myfanwy.Neville@bkl.co.uk

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