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Farnborough Airport: losing control?

Speed read
The Court of Appeal has dismissed the taxpayer’s appeal in Farnborough Airport, ruling that HMRC was entitled to deny claims to group relief surrendered by a company in receivership. Reaching its decision on the grounds that the appointment of receivers constituted ‘arrangements’ depriving the company’s parent of ‘control’ of the company, the court found no need to engage in a discussion of other issues considered in the tribunals below. As a result, some practically important questions arising from the tribunals’ decisions, particularly around the effect of shareholders’ agreements, remain unanswered.

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