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UT (Tax & Chancery) UT/2022/0092 - [2024] UKUT 00373 (TCC)
Fecha: 29-May-2024
Heading
UT (Tax & Chancery) Case Number: UT/2022/0092
STAMP DUTY LAND TAX – group relief – arrangements of which one of the main purposes is the avoidance of liability to tax – deemed market value rule – FTT held group relief not available as one of the main purposes was the avoidance of liability to tax and that the deemed market value rule applied – appeal dismissed
Hearing venue: The Rolls Building
London EC4A 1NL
Written submissions: 13 and 27 September, 4 October 2024
Judgment date: 20 November 2024
Before
JUDGE JEANETTE ZAMAN
JUDGE TRACEY BOWLER
Between
THE TOWER ONE ST GEORGE WHARF LIMITED
Appellant
and
THE COMMISSIONERS FOR HIS MAJESTY’S
REVENUE AND CUSTOMS
Respondents
Representation:
For the Appellant: Nicola Shaw KC, counsel, instructed by Herbert Smith Freehills LLP
For the Respondents: Michael Jones KC, counsel, instructed by the General Counsel and Solicitor for His Majesty’s Revenue and Customs
DECISION
- Heading
- Introduction
- FTT Decision
- Relevant legislation
- Grounds of appeal
- Ground 1 – whether the transaction forms part of arrangements of which one of the main purposes is the avoidance of liability to tax such that group relief is unavailable
- Tower One’s submissions
- No tax was actually avoided
- Any avoidance was of a future or contingent liability to tax
- Confusion of intended effect with purpose
- Any tax avoidance purpose was not a main purpose
- Discussion and conclusion
- Ground 2 – whether the Case 3 exception to the deemed market value rule applies
- Tower One’s submissions
- HMRC’s submissions
- Conclusions