In Cobalt Data Centre 2 LLP and another v HMRC [2022] EWCA Civ 1422 (31 October 2022) the CA allowed HMRC’s appeal holding that two LLPs were not entitled to allowances in respect of the construction of two data centres in an enterprise zone. Following detailed contractual analysis into whether the actions of the parties constituted a variation or rescission of the original contract the CA concluded that the taxpayer LLPs had no entitlement to EZAs on the basis the relevant expenditure was incurred pursuant to a new self-standing agreement entered into outside the relevant statutory window.
Two SPVs were formed to develop land in an enterprise zone. One (the developer) held a lease of part of the site and the other (the contractor) was to carry out the building works. The day before the ten-year period for...
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In Cobalt Data Centre 2 LLP and another v HMRC [2022] EWCA Civ 1422 (31 October 2022) the CA allowed HMRC’s appeal holding that two LLPs were not entitled to allowances in respect of the construction of two data centres in an enterprise zone. Following detailed contractual analysis into whether the actions of the parties constituted a variation or rescission of the original contract the CA concluded that the taxpayer LLPs had no entitlement to EZAs on the basis the relevant expenditure was incurred pursuant to a new self-standing agreement entered into outside the relevant statutory window.
Two SPVs were formed to develop land in an enterprise zone. One (the developer) held a lease of part of the site and the other (the contractor) was to carry out the building works. The day before the ten-year period for...
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If you do not subscribe but are a registered user, please enter your details in the following boxes:
