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R v Inland Revenue Commissioners, ex p MFK Underwriting Agents [1990]

Facts

  • Before taking part in a particular type of investment opportunity, MFK asked IRC about the future tax implications
  • IRC said that there would be no tax rises; then put taxes up, costing MFK money

Issue

Decision

  • No

Reasoning

  • To uphold such a right, there must have been a full disclosure to a decision maker, responded to by an unambiguous representation
  • MFK had not disclosed their position fully
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