Icebreaker 2

In Acornwood LLP [2014] TC 03545, the First-tier Tribunal (FTT) dismissed in part the appeals by several partnerships concerning arrangements entered into for the acquisition and exploitation of intellectual property rights. The case was known unofficially as ‘Icebreaker 2’, having followed the decision in Icebreaker 1 LLP v R & C Commrs [2011] BTC 1,579. It was also the tax avoidance scheme famously used by three members of Take That.

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