HMRC successfully resists claim by Inmarsat for capital allowances on the costs of launching six leased satellites. Michael Gibbon QC appeared for HMRC.
HMRC has been successful in the First-tier Tribunal in a long-running dispute with Inmarsat concerning the launch costs in relation to six leased communications satellites which were launched between 1990 and 1996. The FTT agreed with HMRC that no deduction was available.
In a public statement the company has estimated the resulting liability at c.$100m plus interest.
Michael Gibbon QC appeared for HMRC (leading Richard Vallat QC and Ronan Magee).
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