In 2014, Jolyon Maugham (not then a KC) wrote an article about the “Boys Who Won’t Say No” – the handful of tax KCs who had a reputation for issuing opinions that avoidance schemes would work.
Those opinions were vital for the promoters selling the scheme, as they could reassure clients that they had a KC opinion. However in practice these schemes were doomed, and had no real prospect of success – the clients would almost certainly lose their money. But the KCs knew that the clients couldn’t sue them, because the KC’s client was the promoter, who did just fine out of the scheme. And only the client can sue.
Those opinions were vital for the promoters selling the scheme, as they could reassure clients that they had a KC opinion. However in practice these schemes were doomed, and had no real prospect of success – the clients would almost certainly lose their money. But the KCs knew that the clients couldn’t sue them, because the KC’s client was the promoter, who did just fine out of the scheme. And only the client can sue.
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