Summary
The Supreme Court sided with HMRC against HFFX, a currency-trading fund that had been structured so profits shared with traders bore corporation tax at 24% rather than income tax. The Court held the profits were taxable at 45% income tax.
What it means for you
Remuneration routed through corporate or partnership structures is increasingly treated as employment income — review similar arrangements.
This summary is general information, not legal advice. The outcome of any case depends on its facts; read the source and take advice before acting.
More United Kingdom updates
- Autumn Budget 2026: bank surcharge doubled, VAT for online marketplace sellers28 Oct 2026 · HM Treasury