25 April 2023
Morgan Lloyd & Ors -v- HMRC
The FTT has released its decision in this case concerning finance provided from pension schemes to employers, backed by a range of intellectual property assets. The FTT determined a number of issues, including identifying and valuing the intellectual property in several test cases. The FTT concluded that a number of unauthorised payments had been made, and that the scheme administrator’s liability for the resulting tax charges should not be discharged.
Laura Poots, acting for HMRC, led Emile Simpson, together with Jamie Muir Wood of Hogarth Chambers and Sarah Black of 11 New Square.
To view a copy of the decision please click here
This content is provided free of charge for information purposes only. It does not constitute legal advice and should not be relied on as such. No responsibility for the accuracy and/or correctness of the information and commentary set out in the article, or for any consequences of relying on it, is assumed or accepted by any member of PCTC or by PCTC as a whole.