Richard Doran and Nicola Hine (KPMG) examine a recent decision of the Upper Tribunal on the application of TMA 1970 s 114 that appears to sit awkwardly with the Court of Appeal’s judgment in Archer.
In GLL BVK International Immobilien Spezialfonds & iii-BVK Europa Immobilien Spezialfonds v HMRC [2019] UKUT 17 the appellants GLL BVK International Immobilien Spezialfonds (GLL) and iii-BVK Europa Immobilien Spezialfonds (iii-BVK) are German real estate investment funds which invested in UK properties. They made claims for repayment of income tax in the years ending 2010 to 2013 accounted for under the non-resident landlord (NRL) scheme which were refused by HMRC and appealed to the FTT. The ultimate investors in both GLL and iii-BVK throughout the relevant tax years were various German pension schemes. GLL and iii-BVK were considered transparent for tax purposes.
A preliminary issue arose concerning the quantum and scope of the repayment...
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Richard Doran and Nicola Hine (KPMG) examine a recent decision of the Upper Tribunal on the application of TMA 1970 s 114 that appears to sit awkwardly with the Court of Appeal’s judgment in Archer.
In GLL BVK International Immobilien Spezialfonds & iii-BVK Europa Immobilien Spezialfonds v HMRC [2019] UKUT 17 the appellants GLL BVK International Immobilien Spezialfonds (GLL) and iii-BVK Europa Immobilien Spezialfonds (iii-BVK) are German real estate investment funds which invested in UK properties. They made claims for repayment of income tax in the years ending 2010 to 2013 accounted for under the non-resident landlord (NRL) scheme which were refused by HMRC and appealed to the FTT. The ultimate investors in both GLL and iii-BVK throughout the relevant tax years were various German pension schemes. GLL and iii-BVK were considered transparent for tax purposes.
A preliminary issue arose concerning the quantum and scope of the repayment...
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