Intra-group loan shares-for-interest scheme fails (First-tier Tribunal) | Practical Law
The First-tier Tribunal has found ineffective an avoidance scheme that replaced interest on an intra-group loan with shares issued to a third group company with a view to the share issue being deductible but the receipt of shares being tax free (Versteegh Ltd and others v HMRC [2013] UKFTT 642 (TC)).