Sofia Casselbrant-Multala and Dominic Stuttaford (Norton Rose Fulbright) examine the Court of Appeal decision in Rossendale that demonstrates the potential general application of the Ramsay approach, but clearly shows its limits as a means of countering avoidance.
The decision in Rossendale Borough Council v Hurstwood Properties (A) Ltd and others [2019] EWCA Civ 364 (Rossendale) concerned schemes involving the granting of leases over unoccupied properties to SPVs. The grant of a lease to an SPV followed by the placing of the SPV into voluntary liquidation was intended to take advantage of a particular exception from liability to business rates. Among the issues before the Court of Appeal was whether the corporate veil could be pierced in respect of the SPVs so as to allow recovery of business rates from the defendant freehold or leasehold proprietors. The local authorities seeking to recover the business rates focused...
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Sofia Casselbrant-Multala and Dominic Stuttaford (Norton Rose Fulbright) examine the Court of Appeal decision in Rossendale that demonstrates the potential general application of the Ramsay approach, but clearly shows its limits as a means of countering avoidance.
The decision in Rossendale Borough Council v Hurstwood Properties (A) Ltd and others [2019] EWCA Civ 364 (Rossendale) concerned schemes involving the granting of leases over unoccupied properties to SPVs. The grant of a lease to an SPV followed by the placing of the SPV into voluntary liquidation was intended to take advantage of a particular exception from liability to business rates. Among the issues before the Court of Appeal was whether the corporate veil could be pierced in respect of the SPVs so as to allow recovery of business rates from the defendant freehold or leasehold proprietors. The local authorities seeking to recover the business rates focused...
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:
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