Philip Harle explains that much awaited Court of Appeal decision in Anson tells us remarkably little about ‘entity classification
The much anticipated decision in Anson tells us remarkably little about ‘entity classification’ whilst suggesting that the whole exercise is wishful thinking.
HMRC has a list (HMRC’s International Manual at INTM180030) which characterises entities jurisdiction by jurisdiction as either ‘opaque’ or ‘transparent’. It has long been HMRC’s view that Delaware LLCs are ‘opaque’ and this was confirmed by the Court of Appeal in HMRC v Anson [2013] EWCA Civ 63. But what does it mean to be ‘opaque?’
The UK tax system is well suited to taxing companies. They have separate legal personality are taxpayers in their own right and have...
