XL Insurance Company SE v (1) IPORS Underwriting Limited; (2) Paul Alan Corcoran; (3) Cheshire Prestigious Cars Limited And (4) Her Majesty’s Revenue and Customs [2021] EWHC 474 (Comm)

Al Capone once said: “The income tax law is a lot of bunk. The government can’t collect legal taxes from illegal money.” Al Capone, of course, had no intention of paying legal taxes. But what would have happened if he had declared stolen funds as income and paid a proportion as income tax?