Professor John Armour interviews MPhil Candidate Peter Lernyei

Professor John Armour, Faculty Dean, recently caught up with one of our 2023-24 Dean’s Scholars, MPhil Candidate Peter Lernyei. They talked about Peter’s experience at Oxford on the BA and MSc in Law and Finance, and the focus of his current MPhil research. Peter also touched on the impact of receiving the Dean’s Scholarship in support of his studies at Oxford, and the importance of student finance in general.

JA: It’s great to meet you, Peter. Could you tell us a little bit more about yourself, and what you’re working on? 

PL: Of course! I am from Liverpool and have been studying in Oxford since the age of 17. At the moment I am undertaking a research project on the topic of taxation law through the MPhil in Law programme at the faculty. 

JA: It's wonderful to hear that you have progressed through our undergraduate programme to do graduate study – I believe you did the MLF last academic year. And now on to a research degree. What drew you to doctoral research in taxation?  

PL: I have always been interested in research and especially so since starting my undergraduate degree here. I loved studying on the BA Jurisprudence but at many stages felt the urge to explore topics on a more in-depth level; I knew doctoral research would give me the opportunity to do just that. My interest in taxation arose from my interest in policy and the close attention that those in the field often give to the connection between law in the books and law in practice. 

JA: Now you are well into your MPhil, how well do you think your prior study at Oxford has prepared you for research? 

As I approached the end of my undergraduate degree, I knew that effective research in taxation would require me to continue developing my legal skills but also gain a stronger understanding of economics and finance, so I continued at the University on the interdisciplinary MSc in Law and Finance programme. This programme provided me with the development I had hoped for and deepened my research interests - following this I began my current research project on the MPhil in Law, which I plan to continue on the DPhil programme at Oxford.  

JA: It's great to hear that you found the MLF so useful. Tell us a little bit more about your research. What are you focussing on specifically? 
 
PL: My research concerns corporation tax competition in the UK, addressing the key relevant legal changes of the last ten years to determine what constraints there are on the UK’s policymaking ability. In particular, I am currently looking at the legal impact of Brexit on this policymaking ability, as explored through a case study on tax incentives for locating headquarters in the UK as a way through which to attract greater foreign investment. 

JA: Very interesting! So how are you finding that Brexit has affected the UK’s ability to offer multinational companies tax incentives to (re)locate their HQs in this country?  

PL: With regard to the impact of Brexit, I have found the most important (and interesting) developments to stem from the EU-UK Trade and Cooperation Agreement and the Subsidy Control Act 2022. The former includes commitments that are unique within trade agreements concluded by the EU or UK, with references being made to uncertain principles including ‘good governance in tax matters’ and ‘the global standards on fair tax competition’. The latter relies on a novel definition of ’subsidy’, with the new subsidy regime providing for an exception where subsidies are justified by various ‘principles inherent to the design of the general system’. Although the UK may generally be regarded as having slightly greater autonomy in many of these areas following Brexit, I believe that these specific elements (albeit uncertainty surrounding their precise effect) could potentially impose significant restrictions on the introduction of tax policies that are especially targeted and/or depart from approaches taken elsewhere.  

JA: What impact do you see this having on corporate behaviour? 

PL: I think the full impact of all this remains to be seen, but I would like to highlight the point (that has come up countless times) that corporations are not only looking for favourable tax treatment but also for simplicity and certainty in their engagement with tax systems. 
 
JA: It’s great to hear about your very topical research, and I wish you all the best with this. Do you have an idea at this point what type of career you would like to pursue? Does an academic career appeal to you?   

PL: My commitment to engaging in academia has been a key motivating factor for me since my time as an undergraduate. One of the reasons I have pursued doctoral research is my desire to teach in the future and to hopefully contribute to society through legal scholarship. I also think effective research and teaching can benefit a lot from practical experience (perhaps especially so for the areas that I am interested in) such that I am also interested in getting involved in the practical side of things as well. I am very passionate about the practical application of law in society and feel strongly about public access and understanding of the law. 

I wish to make clear my enormous gratitude for the wonderful academic and administrative staff at the Faculty of Law and Worcester College, and for the fantastic support of Oxford’s Crankstart Scholarship and Dean’s Scholars Fund. The personal and financial support I have received has been absolutely critical in my pursuit of my dreams at Oxford. I know first-hand the difference that such support can make in breaking down barriers to both undergraduate and postgraduate higher education, and I would like to emphasise that financial support can have an incredible impact on the journeys of students like me.  

JA: I’m so glad to hear that these initiatives have been so valuable for you, and that they are delivering what they are intended to do.  

Oxford Law is able to support scholars like Peter because of generous gifts from friends of the Faculty to the Dean’s Scholars Fund. Please consider if you could support future scholars go on to shape the future of law by donating. You can find out more about the Dean’s Scholars Fund, and how to make a donation today.