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Mr McErlean’s evidence
Mr McErlean’s evidence
Conor McErlean was (and still is so far as his UK affairs are concerned) Mr Burley’s accountant.
He explained that he and Mr Burley went to see Alan Pink (“Mr Pink”) to discuss the question of unforeseen income tax liabilities that were arising to Mr Burley in connection with his membership of two film schemes, BMI and BMII. Mr Pink suggested to Mr Burley that it would be possible to mitigate the effect of these tax liabilities by introducing his interests in the Partnerships to the LLP, and subsequently attributing profits of the LLP to CBL, thereby bringing about the result that the profits would be chargeable at a lower rate of tax than if they had been income attributable to Mr Burley himself.
- Heading
- Introduction
- The Facts
- Mr Burley’s evidence
- Mr McErlean’s evidence
- Mr Pink’s evidence
- The Minute of Agreement
- The LLP’s Accounts
- Mr Burley’s Submissions
- HMRC’s Submissions
- Discussion
- The Tax Question: Was Mr Burley receiving/entitled to income from the Partnerships?
- The partnership law question: Did the Minute achieve what it set out to do (assign Mr Burley’s rights to income from the Partnerships)?
- Conclusions