Updated January 2016
In the case of Drilling Global Consultant LLP v HMRC, a limited liability partnership (“LLP”) was denied the annual investment allowance on upgrading an aircraft on the basis that its members weren’t all individuals. The result is a straightforward application of the capital allowances legislation. However, the arguments put forward by the LLP are of some interest, as well as being totally wrong.
(This article can be downloaded in pdf format at Academia.edu.)