UT overturn FTT analysis of anti-avoidance rules in the corporation tax consortium relief provisions

The Upper Tribunal has handed down its decision in Eastern Power Networks, overturning the FTT’s analysis of anti-avoidance rules in the corporation tax consortium relief provisions. Importantly, the UT also confirmed that technical points of law can be resolved by the Tribunal in deciding whether to issue closure notices.

Jonathan Peacock QC and Sarah Black acted for Eastern Power Networks.