SECOND-HAND LIFE POLICIES AND A CGT AVOIDANCE SCHEME

Drummond-v-HMRC: CGT avoidance scheme involving the use of non-qualifying life assurance policies: The interaction of sections 37 and 39 TCGA 1992 led to a CGT loss: The Court of Appeal held that the loss was an artificial one based on an avoidance scheme: Leave to appeal to the House of Lords has been refused.

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