M R CURRELL LIMITED v The Commissioners for HM Revenue and Customs [2024] UKUT 00404 (TCC)
Upper Tribunal Tax and Chancery Decision of Mr Justice Richard Smith and Judge Zaman on 06 December 2024
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INCOME TAX AND NICs 바카라 사이트“ PAYE 바카라 사이트“ payment to an EBT, loan of same amount to a director - FTT found purpose of payment was to enable the loan to be made and the purpose of the loan was to reward the director; it was inevitable at the time of payment to the EBT that the loan would be made; there was a genuine repayment obligation - held - FTT made an error of law in concluding that in vast majority of cases a loan confers a taxable benefit and that the loan made to the director conferred such a benefit - decision of FTT set aside - re-made - neither payment to the EBT nor the principal of the loan to the director was earnings - appeal allowed