In The Queen (oao Cobalt Data Centre 2 LLP and others) v HMRC [2019] UKUT 342 (15 November 2019) the UT found that two limited liability partnerships had been carrying on a business with a view to profit so that they could benefit from enterprise zone allowances (EZAs) on part of their investments (CAA 2001 s 298 now repealed).
The appellants two limited liability partnerships had acquired an assignment of rights under a construction contract which related to construction works to be undertaken at the Cobalt Business Park situated within an enterprise zone at the time. The plan was to build data centres which would be let but no tenant was ever found. The two LLPs had claimed EZAs in relation to the expenditure incurred on the rights.
The first issue was whether the sums paid by...
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In The Queen (oao Cobalt Data Centre 2 LLP and others) v HMRC [2019] UKUT 342 (15 November 2019) the UT found that two limited liability partnerships had been carrying on a business with a view to profit so that they could benefit from enterprise zone allowances (EZAs) on part of their investments (CAA 2001 s 298 now repealed).
The appellants two limited liability partnerships had acquired an assignment of rights under a construction contract which related to construction works to be undertaken at the Cobalt Business Park situated within an enterprise zone at the time. The plan was to build data centres which would be let but no tenant was ever found. The two LLPs had claimed EZAs in relation to the expenditure incurred on the rights.
The first issue was whether the sums paid by...
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.jpg?sfvrsn=335a554c_0 "300 x 250 (MPU)")