Cadburys Loses Tax Case
Cadbury Schweppes plc and another v Williams (Inspector of Taxes)
[2006] EWCA Civ 657
CA
24 May 2006
Daily Law Notes Report Summary
A tax avoidance scheme designed to procure that certain receipts
from the sale of securities with accrued interest would be taxable
as capital rather than income failed in its purpose. The
securities carried interest at a variable rate, the scheme thus
being caught by the anti-avoidance provisions of s 717 of the
Income and Corporation Taxes Act 1988.