Decision Number: |
TC 03545 |
Appellant:
|
Acornwood LLP
Bastionspark LLP
Edgedale LLP
Starbrooke LLP
Hawksbridge LLP |
Respondent:
|
The Commissioners for Her Majesty's Revenue & Customs |
Chairmen / Special
Commissioners: |
Colin BISHOPP
|
Date Of Decision:
|
07/05/2014 |
Main Category:
|
INCOME TAX/CORPORATION TAX |
Main Subcategory:
|
Exemptions and reliefs |
Notes:
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INCOME TAX — loss relief — arrangements for exploitation of intellectual property rights — whether first-year losses incurred — whether large part of money used for exploitation of rights or for purchase of guaranteed income stream — guaranteed income stream — whether remainder used within first accounting period and allowable loss in that year — whether capital or income payments — Icebreaker 1 considered — arrangements essentially a tax avoidance scheme — appeals against closure notices substantially dismissed REFERENCE — TMA s 28ZA — whether partnerships’ trade commercial — no — whether members non-active — yes — whether Restrictions Regulations apply — no, as none of conditions satisfied — whether ITA s 74ZA applies to later iteration — yes |
Decision(s) to Download:
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TC03545.pdf
|