Court of Appeal dismisses HMRC appeal on "SHIPS 2" second-hand life policy scheme | Practical Law

Court of Appeal dismisses HMRC appeal on "SHIPS 2" second-hand life policy scheme | Practical Law

The Court of Appeal, applying the Ramsay principle of statutory construction, has dismissed HMRC's appeal in HMRC v Mayes [2011] EWCA Civ 407, a case involving a tax avoidance scheme marketed as "SHIPS 2".

Court of Appeal dismisses HMRC appeal on "SHIPS 2" second-hand life policy scheme

Practical Law UK Legal Update 6-505-6932 (Approx. 8 pages)

Court of Appeal dismisses HMRC appeal on "SHIPS 2" second-hand life policy scheme

by PLC Private Client
Published on 20 Apr 2011
The Court of Appeal, applying the Ramsay principle of statutory construction, has dismissed HMRC's appeal in HMRC v Mayes [2011] EWCA Civ 407, a case involving a tax avoidance scheme marketed as "SHIPS 2".