Private client review for November 2021

Recent cases considered in this month’s review are: the Court of Appeal’s decision in Fisher, which has significant ramifications for all professionals advising in relation to the transfer of assets abroad (TOAA) regime; Mattu concerning tax-related penalties which has some interesting views on the ambit of the settlements code and when the motive defence under the TOAA may not be available; Puttock, a helpful reminder of the quirk in penalties for late submission between paper and online filings; and the Upper Tribunal decision in Mitchell, which confirms that documents provided to HMRC concerning one taxpayer could be disclosed to another taxpayer to assist their appeal, provided they could be relevant. In Budget news, legislation is to be introduced to counter the effect of Wilkes on discovery assessments and the HICBC, and a consultation was announced on corporate redomiciliation.