CORPORATION TAX – UK/USA double tax convention – meaning of a “resident of
Contracting State” for purposes of convention – whether UK resident company with shares
stapled to those of US company treated as domestic corporation for purposes of US federal
tax law also resident for purposes of convention – yes – whether First-tier Tribunal erred in
deciding that appellant was not carrying on business in USA – no – appeal allowed
Heard on: 28 February, 1 and 2 March 2023
Judgment date: 29 June 2023
Before
MR JUSTICE RICHARD SMITH
JUDGE ANDREW SCOTT
Between
GE FINANCIAL INVESTMENTS
Appellant
and
THE COMMISSIONERS FOR HIS MAJESTY’S REVENUE AND CUSTOMS
Respondents
Representation:
For the Appellant: Philip Baker KC and John Brinsmead-Stockham KC, instructed by
Slaughter and May
For the Respondents: Hui Ling McCarthy KC and Barbara Belgrano, instructed by the
General Counsel and Solicitor to His Majesty’s Revenue and Customs