UK vs GE Capital, April 2021, Court of Appeal, Case No [2021] EWCA Civ 534

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In 2005 an agreement was entered between the UK tax authority and GE Capital, whereby GE Capital was able to obtain significant tax benefits by routing billions of dollars through Australia, the UK and the US.

HMRC later claimed, that GE Capital had failed to disclose all relevant information to HMRC prior to the agreement and therefore asked the High Court to annul the agreement.

In December 2020 the High Court decided in favour of HMRC

GE Capital then filed an appeal with the Court of Appeal.

Judgement of the Court of Appeal

The Court of Appeal allowed the appeal and set aside the decision of the High Court and thus the assessment af the HMRC.



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