HMRC wins ‘unallowable purpose’ case –

Posted May 31st, 2019 in interest, news, taxation by tracey

‘A UK company had an “unallowable purpose” in issuing a promissory note and therefore could not deduct the interest payable to a US group company, the First-tier Tribunal in the UK has decided in a case concerning a company in the Oxford Instruments group.’

Full Story, 30th May 2019