Muller UK and Ireland Group LLP and others v HMRC

In Muller UK and Ireland Group LLP and others v HMRC [2024] UKUT 273 (TCC) (6 September) the Upper Tribunal (UT) dismissed an appeal against a decision of the FTT that amortised depreciation debits in respect of intangible assets transferred by corporate members to an LLP were correctly disallowed by HMRC on the basis of the related party exception within CTA 2009 s 882.

The principal issue to be determined was whether the provisions at CTA 2009 s 1259 (which broadly require the profits of a partnership where any partner is a company within the charge to UK corporation tax to be calculated as if the trade in question was carried out by a UK resident notional company) imported the intangible assets provisions at CTA 2009 Part 8. Importantly the latter included an exception to...