The Court of Appeal heard the appeal and cross appeal in the vital anti-avoidance case HMRCv BlackRock Holdco 5 LLC in April. As is well known this is a complex case across transfer pricing and unallowable purpose. Sitting within the density of legal and factual arguments is an element of law that has thus far been relatively speaking under the radar. The interactive discussion on just and reasonable apportionment rule in s 441 demonstrated the very real difficulty in applying the apportionment of debits between competing commercial and other purposes. The previous tribunals and courts have provided very different views. In most cases the outcome was effectively all or nothing. However the legislation does appear to anticipate the possibility of a more nuanced apportionment. Is the just and reasonable apportionment a second bite at the cherry for a taxpayer where an unallowable purpose has...
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The Court of Appeal heard the appeal and cross appeal in the vital anti-avoidance case HMRCv BlackRock Holdco 5 LLC in April. As is well known this is a complex case across transfer pricing and unallowable purpose. Sitting within the density of legal and factual arguments is an element of law that has thus far been relatively speaking under the radar. The interactive discussion on just and reasonable apportionment rule in s 441 demonstrated the very real difficulty in applying the apportionment of debits between competing commercial and other purposes. The previous tribunals and courts have provided very different views. In most cases the outcome was effectively all or nothing. However the legislation does appear to anticipate the possibility of a more nuanced apportionment. Is the just and reasonable apportionment a second bite at the cherry for a taxpayer where an unallowable purpose has...
If you are not a subscriber, subscribe now to read this content.
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