The Commissioners for HM Revenue and Customs v 1) NCL Investments Ltd, 2) Smith and Williamson Corporate Services Ltd: [2019] UKUT 0111 (TCC).

Upper Tribunal Tax and Chancery decision of Mr Justice Mann and Judge Herrington on 8 April 2019.

• From: HM Courts & Tribunals Service and Upper Tribunal (Tax and Chancery Chamber)
• Published: 8 April 2019

• Category: Tax
• Release date: 8 April 2019

Read the full decision in The Commissioners for HM Revenue and Customs v 1) NCL Investments Ltd, 2) Smith and Williamson Corporate Services Ltd: [2019] UKUT 0111 (TCC) .

CORPORATION TAX – grant of share options to employees by an employee benefit trust - whether accounting debits arising under IFRS2 deductible as a trading expense of the employing companies - yes - whether that debit was capital in nature - no - whether s 1038 or prevents a deduction from being available - no - whether s 1290 CTA 2009 prevents a deduction from being available – no.

Published 8 April 2019