“…x, or bring it within an exemption from tax, as the case might be. Examples include Inland Revenue Comrs v Burmah Oil Co Ltd 1982 SC (HL) 114, Furniss v Dawson [1984] AC 474, Carreras Group Ltd v Stamp Comrs [2004] STC 1377, Inland Revenue Comrs v Scottish Provident Institution [2004] 1 WLR 3172 and Tower MCashback LLP 1 v Revenue …”
“…return and did return the taxpayer to the starting position except for the payment of expenses” (to quote from the speech of Lord Brightman in Furniss v Dawson [1984] AC 474, at 524). Lord Wilberforce observed in Ramsay (at 326) that CGT “was created to operate in the real world, not that of make-belief” and that it is “a tax on ga…”
“… effect on the construction of the relevant legislation rather than on the more structural approach outlined in some of the earlier cases like Furniss v Dawson [1984] AC 474. In Barclays Mercantile at [32] Lord Nicholls of Birkenhead summarised the effect of the claim in Ramsay in these terms:…”