Owners of stately homes are a fairly rare breed but those that open their doors to the public will be considering whether they can benefit from a recent Court of Appeal Case.
The ongoing saga of HMRC v The Executors of Lord Howard of Henderskelfe recently reached the Court of Appeal. The taxpayer came out on top again in this round of judgements having previously being successful in the Upper Tribunal and High Court. With a lot of tax at stake it is likely that HMRC will appeal the decision to the Supreme Court, but we must wait to see. HMRC had been provided with initial encouragement after a win in the First Tier Tribunal.
Crux of the Case
The late Lord Howard's estate sold a 'Old Master’ painting by Sir Joshua Reynolds for...
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