In CRC v Dolphin Drilling Ltd [2024] EWCA Civ 1 the Court of Appeal (CA) decided that a tender support vessel providing tender assisted drilling services was a ‘relevant asset’ under CTA 2010 Pt 8ZA. This decision is significant in clarifying the meaning of ‘incidental’ which appears in various places in the tax code and overturned the approach adopted by the First-tier Tribunal (FTT) and endorsed on appeal by the Upper Tribunal (UT).
What are the facts of this case?
Dolphin Drilling Ltd (Dolphin) provided vessels by way of bareboat charter to operators in the oil and gas industry. Dolphin chartered a vessel called the Borgsten Dolphin (the Borgsten) from Borgsten Dolphin Pte Ltd (BDPL) its associated Singapore company and in turn provided the vessel to Total E&P (UK) Ltd (Total) to fulfil a contract in connection with drilling activities at the...
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.