Tag Archives: HM Revenue and Customs (HMRC)

HMRC’s post-Anson response to hybrid entity classification

On 25 September 2015, HMRC issued Revenue and Customs Brief 15 (2015) setting out its response to the UK Supreme Court’s decision regarding hybrid entity classification in Anson. HMRC has, after “careful consideration” formed the view that “the decision is specific to the facts found in the case”. Consequently:

  • where a US LLC has been treated as a company within a group structure HMRC will continue to treat the US LLC as a company, and where a US LLC has itself been treated as carrying on a trade or business, HMRC will continue to treat the US LLC as carrying on a trade or business.
  • HMRC proposes to continue its existing approach to determining whether a US LLC should be regarded as issuing share capital.
  • HMRC will consider individuals claiming double tax relief and relying on the Anson v HMRC decision on a case by case basis.

My comment on this latest development follows. Continue Reading »

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