HMRC successfully resists appeal by Inmarsat against a ruling on capital allowances on the costs of launching six leased satellites
HMRC has been successful in the Upper 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 Upper Tribunal upheld the FTT decision. The FTT had agreed with HMRC that no deduction was available.
In a public statement the company has estimated the liability at issue as c.$100m plus interest.
Michael Gibbon QC appeared for HMRC (leading Richard Vallat QC and Ronan Magee).
To read the Lawtel case report please click here. To download and read the full judgment, please click here.