19 Dec 2008
BEN NEVIS FORESTRY VENTURES LTD AND ORS V COMMISSIONER OF INLAND REVENUE SC 43/2007
- Citation
- BEN NEVIS FORESTRY VENTURES LTD AND ORS V COMMISSIONER OF INLAND REVENUE SC 43/2007
- Court
- Supreme Court
The Trinity scheme, taken as a whole (licence promissory notes, captive insurer CSI and related arrangements), was a tax avoidance arrangement void under s BG 1; the Commissioner was entitled to counteract the tax advantage by reconstruction under s GB 1 and to impose penalties under the Tax Administration Act for abusive tax positions because the deductions, while meeting the literal terms of specific provisions, were used in a manner outside Parliament's contemplation and were artificial in commercial reality.