The Supreme Court decision in NCL Investments Ltd and the Court of Appeal decision in Skatteforvaltningen are among the recent developments reviewed by Mike Lane and Zoe Andrews (Slaughter and May).
NCL Investments Ltd: deductions for accounting debits recognised on grant of share options
It may seem surprising that HMRC was granted leave to appeal to the Supreme Court when it lost every argument at each step of the way there. There are however several other cases standing behind HMRC v NCL Investments Ltd and another [2022] UKSC 9 and large sums are riding on the outcome from the Crown’s perspective.
The Supreme Court unanimously dismissed HMRC’s appeal. The Court of Appeal the Upper Tribunal and the FTT had also rejected HMRC’s arguments and concluded that the taxpayers (which were the employing companies) were entitled to a deduction as a trading expense in respect of the accounting...
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The Supreme Court decision in NCL Investments Ltd and the Court of Appeal decision in Skatteforvaltningen are among the recent developments reviewed by Mike Lane and Zoe Andrews (Slaughter and May).
NCL Investments Ltd: deductions for accounting debits recognised on grant of share options
It may seem surprising that HMRC was granted leave to appeal to the Supreme Court when it lost every argument at each step of the way there. There are however several other cases standing behind HMRC v NCL Investments Ltd and another [2022] UKSC 9 and large sums are riding on the outcome from the Crown’s perspective.
The Supreme Court unanimously dismissed HMRC’s appeal. The Court of Appeal the Upper Tribunal and the FTT had also rejected HMRC’s arguments and concluded that the taxpayers (which were the employing companies) were entitled to a deduction as a trading expense in respect of the accounting...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
.jpg?sfvrsn=335a554c_0 "300 x 250 (MPU)")