Eclipse Film Partners No 35 Llp v Revenue and Customs: FTTTx 20 Apr 2012

FTTTx Income tax – limited liability partnership acquired licence to film rights and sub-licensed rights to distributor – complex financing arrangements involving loans to members of the partnership and defeasance deposit by the distributor – whether partnership carrying on a trade (a precondition for members to claim relief for a prepayment of interest on their borrowings) – s 362 Taxes Act 1988 – whether the arrangements as a whole were designed to give a series of pre-determined cash flows with object of giving members allowable interest payments – whether licensing of film rights was a trading activity – partnership not carrying on a trade, but a non-trade business – appeal dismissed.
[2012] UKFTT 270 (TC)
Income and Corporation Taxes Act 1988 362
England and Wales
See AlsoEclipse Film Partners No 35 Llp v Revenue and Customs SCIT 17-Feb-2009
SCIT Closure notice – application for direction to close enquiry into tax return – limited liability partnership – s 28B Taxes Management Act 1970 – direction for closure within three months . .
See AlsoEclipse Film Partners No. 35 Llp v Revenue and Customs FTTTx 22-Sep-2010
FTTTx INCOME TAX – Applications by the parties for further directions – whether departure by HMRC unilaterally from the timetable for preparation for the appeal set down in agreed directions, causing additional . .
See AlsoEclipse Film Partners No 35 Llp v Revenue and Customs FTTTx 22-Jun-2011
FTTTx Expert evidence – application for a direction to exclude expert evidence – whether expert evidence inadmissible on grounds that it is an opinion as to UK tax and therefore trespasses on the special . .

Cited by:
See AlsoHM Revenue and Customs v Eclipse Film Partners No35 Llp UTTC 22-Mar-2013
UTTC Procedure – costs – whether, in a case where the taxpayer has opted out of the Complex costs regime, the First-tier Tribunal has the power to order that the parties share the costs of the appellant complying . .
See AlsoEclipse Film Partners No 35 Llp v Revenue and Customs CA 26-Feb-2014
The court was asked whether the First-Tier Tribunal (Tax Chamber) had jurisdiction to make an order that the costs of preparing hearing bundles for a substantive appeal by the appellant taxpayer should be shared equally between the taxpayer and the . .
See AlsoEclipse Film Partners No 35 Llp v HM Revenue and Customs CA 17-Feb-2015
Appeal against closure notice. . .

These lists may be incomplete.
Updated: 15 April 2021; Ref: scu.462663