M Shaw (as nominated member of TAL CPT Land Development Partnership) v HMRC

In M Shaw (as nominated member of TAL CPT Land Development Partnership) v HMRC [2019] UKFTT 280 (26 April 2019) the FTT found that industrial building allowances (IBAs) were not available under CAA 2001 s 285 (temporary disuse).

TAL was formed in November 2003 and its members included a syndicate of individual investors of which Mr Shaw was a member. In February 2004 it purchased an interest in a business and distribution park situated between Glasgow and Edinburgh.

TAL claimed IBAs in respect of accounting periods ended 31 March 2005 to 31 March 2007. The appellant Mr Shaw as nominated member of TAL filed partnership tax returns for the tax years 2004/05 to 2006/07 in which the partnership’s taxable profits were reduced by the IBAs claimed.

HMRC disallowed TAL’s claims to IBAs on the basis that the buildings in respect of which IBAs were claimed did...

If you are not a subscriber, subscribe now to read this content.

If you are already a subscriber, sign in

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.

Once you have registered, you will receive an email directing you back to read this article in full.