Acornwood LLP, Bastionspark LLP, Edgedale LLP, Starbrooke LLP, Hawksbridge LLP v The Commissioners for HM Revenue and Customs: [2016] UKUT 0361 (TCC)

Upper Tribunal Tax and Chancery decision of Mr Justice Nugee on 4 August 2016.

• From: HM Courts & Tribunals Service and Upper Tribunal (Tax and Chancery Chamber)
• Published: 16 February 2017

• Category: Tax
• Release date: 4 August 2016

Read the full decision in Acornwood LLP, Bastionspark LLP, Edgedale LLP, Starbrooke LLP, Hawksbridge LLP v The Commissioners for HM Revenue and Customs: [2016] UKUT 0361 (TCC).

Income Tax – loss relief – arrangements for exploitation of intellectual property rights – whether first-year losses incurred – whether large part of money paid for exploitation of rights or purchase of guaranteed income stream – whether remainder used within first accounting year and allowable loss in that year – appeals against First-tier Tribunal dismissed

Published 16 February 2017