Wellstead v HMRC ~ Rory Mullan

Rory Mullan of Old Square Tax Chambers successfully represented the taxpayer, David Wellstead, in his appeal against HMRC’s refusal to allow capital allowances following his purchase of an industrial building.

The First-tier Tribunal accepted that on the facts of the case the taxpayer had acquired the relevant interest for the purposes of section 286 Capital Allowances Act 2001, notwithstanding that his interest was acquired by way of underlease rather than assignment of the existing lease.

A copy of the decision can be accessed here.

[Posted: 14 July 2016]