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Tribunal rules against HMRC even though loan not authorised employer loan (Bayonet Ventures LLP and Ronald Keith Howard v HMRC)

Tribunal rules against HMRC even though loan not authorised employer loan (Bayonet Ventures LLP and Ronald Keith Howard v HMRC)
Published on: 19 June 2018
Published by: LexisPSL
  • Tribunal rules against HMRC even though loan not authorised employer loan (Bayonet Ventures LLP and Ronald Keith Howard v HMRC)
  • What are the practical implications of this case?
  • What was the background?
  • What did the court decide?

Article summary

Pensions analysis: Mark Herbert QC, door tenant at Pump Court Tax Chambers, advises that the decision in Bayonet Ventures LLP (an employer of a small self-administered scheme which lent £66,000 to Bayonet under a written loan agreement) is significant in its analysis of the way in which a limited liability partnership (LLP) is treated for tax purposes, especially since similar provisions apply to other types of partnerships. or take a trial to read the full analysis.

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