Helen Lethaby on the surprise loss for the taxpayer in Samarkand Film Partnership, an update on disguised remuneration, the ECJ stance on VAT treatment of sales of distressed debt, and more.
The First-tier Tribunal’s recent decision in Samarkand Film Partnership No.3 [2011] UKFTT 610 (TC) was unexpected and if upheld on appeal could have wider significance for how the presence of trading or commerciality is determined particularly in the finance leasing context.
The case concerned a film leasing partnership which was set up to invest in certified British films with a view to the individuals who became partners benefiting from the statutory tax relief which was then available for such investments. It...
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Helen Lethaby on the surprise loss for the taxpayer in Samarkand Film Partnership, an update on disguised remuneration, the ECJ stance on VAT treatment of sales of distressed debt, and more.
The First-tier Tribunal’s recent decision in Samarkand Film Partnership No.3 [2011] UKFTT 610 (TC) was unexpected and if upheld on appeal could have wider significance for how the presence of trading or commerciality is determined particularly in the finance leasing context.
The case concerned a film leasing partnership which was set up to invest in certified British films with a view to the individuals who became partners benefiting from the statutory tax relief which was then available for such investments. It...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes: