NO LOSS RELIEF ALLOWED FOR LLP MEMBER

摘要

The Upper Tribunal in Revenue & Customs v Hamilton & Kinneil (Archerfield) Ltd & Ors [2015] UKUT 130 (TCC) (20 March 2015) has allowed HMRC's appeal and overturned the decision of the FTT in Hamilton & Kinneil (Archerfield) Ltd FTC/94/2014. Hamilton & Kinneil (Archerfield) Ltd (HKAL) was a member of the Renaissance Club at Archerfield LLP (the LLP) and claimed trading losses relating to the LLP against its profits.