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£20M Buybacks Weren't Mainly For Tax Benefit, UK Court Says

By Kevin Pinner ( June 18, 2025, 5:22 PM EDT) -- Obtaining a tax advantage wasn't the main purpose of two businessmen arranging £20 million ($26.8 million) in share buybacks, despite that being the effect, so they aren't liable for an anti-avoidance action by HM Revenue & Customs, the U.K. Upper Tribunal said in overturning a lower court's ruling....

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