Peel Investments (UK) Ltd v HMRC (and related appeals)

In Peel Investments (UK) Ltd v HMRC (and related appeals) (TC02800 – 2 August) HMRC issued a ruling that a company (P) should have accounted for NIC on substantial payments to an employee benefit trust. P appealed and applied for the proceedings to be stayed pending the Upper Tribunal decision in HMRC v Murray Group Holdings Ltd. HMRC opposed the application but the First-tier Tribunal granted it. Judge Herrington held that ‘the further appeal proceedings in Murray Group Holdings will be of material assistance to the FTT in the present appeals. The reason for this is because that appeal will give rise to a binding decision on the FTT as to which of the two approaches articulated in the Murray Group’s majority and minority decisions is the correct legal approach. The principle derived from consideration of those issues will be fundamental...