The Supreme Court’s judgment in Anson v HMRC has been keenly anticipated. It was never just about claiming double tax relief for investments in Delaware LLCs, but goes to the heart of entity classification. A general concern had been that the Court of Appeal's requirement for a proprietary interest in the entity's assets was too onerous for transparency. The decision went the other way, however, and Mr Anson won. Good news for Mr Anson, but we are left with a somewhat confusing test, likely to result in the need to reconsider the classification of many non-UK entities.
The Supreme Court’s judgment in Anson v HMRC has been keenly anticipated. It was never just about claiming double tax relief for investments in Delaware LLCs, but goes to the heart of entity classification. A general concern had been that the Court of Appeal's requirement for a proprietary interest in the entity's assets was too onerous for transparency. The decision went the other way, however, and Mr Anson won. Good news for Mr Anson, but we are left with a somewhat confusing test, likely to result in the need to reconsider the classification of many non-UK entities.
The Supreme Court’s judgment in Anson v HMRC has been keenly anticipated. It was never just about claiming double tax relief for investments in Delaware LLCs, but goes to the heart of entity classification. A general concern had been that the Court of Appeal's requirement for a proprietary interest in the entity's assets was too onerous for transparency. The decision went the other way, however, and Mr Anson won. Good news for Mr Anson, but we are left with a somewhat confusing test, likely to result in the need to reconsider the classification of many non-UK entities.