The Resource Revenue and Customs Commissioners v Anson : [2011] UKUT 318 (TCC)

Revenue and Customs Commissioners v Anson : [2011] UKUT 318 (TCC)

Label
Revenue and Customs Commissioners v Anson : [2011] UKUT 318 (TCC)
Title
Revenue and Customs Commissioners v Anson : [2011] UKUT 318 (TCC)
Contributor
Subject
Language
eng
Summary
Judgment by the Upper Tribunal (Tax and Chancery Chamber) dated 3 August 2011. The taxpayer was a non-domiciled in the UK and was a participant in a Delaware limited liability company (LLC). As a participant, he was paid sums which amounted to a share of the profits of LLC. The whole of the profits were allocated to the members annually. He was taxed on those profits in the US on the basis that LLC was 'transparent' (a partnership) so that the profits fell to be taxed as income of the members. He remitted his income from LLC to the UK and the Revenue sought to tax him on the footing that the income was a dividend. No credit was given for the tax paid in the US; the LLC was treated as 'opaque' so that there was no entitlement to double taxation relief under the tax treaties between the UK and the US. The UK tax was not computed by reference to the same profits or income by reference to which the US tax was computed. On appeal, the First-tier Tribunal held in favour of the taxpayer, but this decision was overturned by the Upper Tribunal upon appeal by the Revenue
Citation source
In: International tax law reports. - London. - Vol. 14 (2011),
Language note
English
http://library.link/vocab/relatedWorkOrContributorName
Baker, P
http://library.link/vocab/subjectName
  • case law
  • double taxation relief
  • profits
  • Delaware corporation
  • opaque
Label
Revenue and Customs Commissioners v Anson : [2011] UKUT 318 (TCC)
Instantiates
Publication
Label
Revenue and Customs Commissioners v Anson : [2011] UKUT 318 (TCC)
Publication

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