Uncertainty Over UK Taxation of Delaware LLCs: UK Tax Authority’s Finesse

6 October 2015
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Key takeaways

  • In Anson v HMRC, the UK’s Supreme Court passed down a decision earlier this year which brought the long-established UK tax treatment of Delaware LLCs into question.
  • HMRC has published its response to the Anson decision confirming that it is sticking with its pre-Anson approach but that it is willing to depart from this approach on a case by case basis.
  • Any fund with a UK nexus that has a US LLC in its structure should review its arrangements against Anson to determine what UK tax treatment should be adopted going forward.