Film Distribution Rights

In Degorce v HMRC [2015] UKUT 0447 (TCC) the Upper Tribunal (UT) upheld the decision of the First-tier Tribunal (FTT) that Mr Degorce's film distribution activities did not amount to trading, with the consequence that he could not claim sideways relief for losses arising from those activities.

The UT observed that the question of whether a person is trading is essentially a question of fact, and that it should not interfere unless compelled to do so.

The UT recognised that there were various...