Guernsey Cos. Can't Withdraw Tax Appeal, UK Tribunal Says

Law360 (January 5, 2021, 8:16 PM EST) -- Two Guernsey companies can't withdraw their appeals in cases involving stamp duty land taxes, the U.K.'s Upper Tribunal said Tuesday in ruling for HM Revenue & Customs, which sought to more accurately divide the tax between the companies and sellers.

One company, Albert House Property Finance, was notified within statutory time limits of HMRC's objection to withdrawing its appeal despite its arguments to the contrary, the court said. The second, Vale Property Finance, misinterpreted U.K. procedural rules that it believed forced a court to dismiss the case, it said.

Albert House and Vale participated in a tax avoidance scheme where they...

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