UPDATE: THE COURT OF APPEAL HAS DISMISSED AN APPEAL AGAINST THIS DECISION – SEE THE CLARITAX NEWS STORY.
The Upper Tribunal has dismissed HMRC’s appeal on all counts in HMRC v Burlington Loan Management DAC [2024] UKUT 152 (TCC).
INCOME TAX – meaning of Article 12(5) of the UK-Ireland double tax convention – whether the FTT erred in law in considering whether persons concerned in assignment of a debt claim had main purpose of taking advantage of Article 12(1) of the UK-Ireland double tax convention – no – [HMRC] appeal dismissed.
The FTT had concluded that the company did not have a main purpose of taking advantage of Article 12(1) for itself. The Upper Tribunal agreed.
https://caselaw.nationalarchives.gov.uk/ukut/tcc/2024/152
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