HMRC has been successful in the Court of Appeal in a further stage of a long-running dispute with Inmarsat concerning a claim for capital allowances on launch costs in relation to six leased communications satellites which were launched between 1990 and 1996. The First-tier Tribunal and Upper Tribunal had agreed with HMRC that no deduction was available.

In a public statement the company has in the past 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.