Stephen Smith warns practitioners to keep an eye on the tax consequences of disposals set aside under s 37 of MCA 1973
The case of AC v DC (No 1) [2012] EWHC 2032 (Fam), [2012] All ER (D) 380 and AC v DC (No 2) [2012] EWHC 2420 (Fam), [2013] All ER (D) 11 (Apr) has been subject to comment, in various guises, over the past few months (see “Scuppering unscrupulous spouses”, NLJ, 7 June 2013, p 14).
What is perhaps interesting is that while the judgments by Mostyn J (No 1) and Sir Hugh Bennett (No 2) have attracted comment, there has been little discussion or consideration of the helpful tax analysis undertaken by Mostyn J in AC v DC (No 1) and clarification of the tax consequences arising from the setting aside of a disposition following an application under s 37 of the Matrimonial Causes Act 1973 (MCA 1973).
The final hearing, (No 2), came before Sir Hugh Bennett in the summer
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