Upper Tribunal upholds taxpayer victory in major capital allowances decision.

The UT has handed down judgment in the dispute between SSE and HMRC over plant and machinery allowances in relation to the “Glendoe” hydroelectric scheme in Scotland.  The UT has dismissed HMRC’s appeal, thereby confirming SSE’s entitlement to further allowances of approximately £200m and clarifying some important points as to the operation of the capital allowances code.  Jonathan Peacock QC and Michael Ripley acted for SSE.

The Upper Tier Tribunal’s decision is available here.