Jonathan Rothwell and Dominic Lawrance write for Tax Journal on a recent Upper Tribunal decision (d’Angelin v HMRC [2025] UKUT 212 (TCC)) and issues surrounding the application and potential pitfalls of business investment relief
In an article for Tax Journal, Jonathan Rothwell, Legal Director, and Dominic Lawrance, Partner, consider an Upper Tribunal decision that highlights significant issues in the application and potential pitfalls of business investment relief.
The recent decision of the Upper Tribunal in d’Angelin v HMRC [2025] UKUT 212 (TCC) highlights significant issues surrounding the application and potential pitfalls of business investment relief (BIR).
By way of reminder BIR was introduced in 2012 to address a long-standing criticism of the remittance basis of taxation which is that it disincentivises investment into the UK. Broadly BIR allows remittance basis users to use their foreign income or gains to make investments in UK trading companies whose shares are not listed without that resulting in a taxable remittance.
Read the full piece in Tax Journal here (subscription required).
