Briefing
UK tax analysis: reflections on the Court of Appeal’s decision in BlueCrest - a “significant” change in approach?
In the article available at the link below, David Haworth and David Haughey from our London tax team discuss the Court of Appeal’s recent decision in HMRC v BlueCrest Capital Management (UK) LLP [2025] EWCA Civ 23, which considers the application of the UK’s salaried member rules.
The article notes that Court of Appeal’s approach in this case represents a substantial departure from the approach adopted by the First-tier and Upper Tribunals to applying the “significant influence” condition in the UK’s salaried member rules and provides useful further guidance on how those rules should be applied.
It is also highlighted that the decision serves as a cautionary tale of the perils of relying too heavily on HMRC’s published guidance, and may cause businesses with UK LLP structures to revisit their own salaried members position.
This article was originally published in Tax Journal on 7 February 2025.
UK tax analysis reflections on the Court of Appeal’s decision in BlueCrest - a “significant” change in approach
(PDF - 206 KB)
