Briefing
UK tax analysis: refresher on beneficial ownership
Beneficial ownership and entitlement are pervasive concepts in tax law. The Court of Appeal’s decision in Hargreaves offers an opportune reminder of the domestic meaning of these terms, including that they are susceptible to purposive construction. Artificial arrangements leaving the owner with nothing more than a legal shell will not therefore survive judicial scrutiny. The judgment also plainly states that there is a difference between the domestic and international fiscal meanings of these terms.
In the article available at the link below, Helen Buchanan, Matthew Everett and Gabrielle Van der Haegen from our London Tax team explore the concepts of beneficial ownership and entitlement under English law, and discuss their practical application to the areas of tax law in which they are commonly encountered.
This article was originally published in Tax Journal on 12 July 2024.
