Total eclipse of a tax scheme—establishing trading status

Table of contents

• Original news
• What was the case about?
• What did the court decide?
• Has the scheme that was the subject of this judgment been widely used?
• Does the case tell us anything new about the activities that will, and will not, be treated as a trade for tax purposes?
• Does the case have any practical implications—either for those who have taken part in similar schemes, or more generally?

Article summary

Tax analysis: What impact does the Court of Appeal’s recent decision in Eclipse Film Partners No 35 have on the definition of ‘trade’ for tax purposes? John Endacott, tax partner at Francis Clark, discusses the importance of case law in understanding the parameters of the term.