Tuesday, February 15, 2011

Tax allowance for cost of acquiring right to use software

Via this blogger's friends on the UKSC Blog comes this link to the news of a forthcoming hearing by the United Kingdom's Supreme Court. The case is Commissioners for Her Majesty’s Revenue and Customs (Appellant) v Tower MCashback LLP and another (Respondents).  According to the UKSC Blog,
"The Supreme Court will consider ... a substantive issue (whether expenditure on the acquisition of a right to use software, which was funded by non-recourse loans from the owner of the software, can qualify for an allowance under section 45 of the Capital Allowances Act 2001 (the “CAA”))".
The two-day hearing in this case will begin on 21 February 2011.