It is with much pleasure that we welcome readers to the June 2023 edition (citation: SLT 2023/2) of our ground-breaking journal Sports Law and Taxation (SLT) and online database www.sportslawandtaxation.com.
Tax planning in sport is of increasing importance particularly in view of the eye-watering financial returns accruing from the commercial exploitation of major sporting events, especially international ones, such as the Olympic Games, the FIFA World Cup and the UEFA Champions League. So, we invited a leading sports tax expert and regular contributor to SLT, Kevin Offer, a Partner at Hardwick and Morris, LLP, London, United Kingdom, to provide some insights into this complex subject. Here follow his comments.
“The importance of tax planning for organisers of sports events
Introduction
When organising and managing sports events it is often the tax position of the individual sportspersons and/or competing teams that are considered. However, the tax position of the organisers is just as important and can often be overlooked. There will be the tax treatment of any income generated by the event and, in addition, any arrangement that a sportsperson has made to exploit their image or provide their services can also have an effect for the organisers. The treatment of payments made to sportspersons may also give rise to obligations for the organisers due to the requirement to withhold taxes. It is, therefore, just as important for the organisers to seek proper tax planning advice when organising an event.
Potential tax issues
The potential tax issues that can arise for sports events’ organisers may be split between payments received and payments made.
Payments received
The organisers may receive payments from a number of sources, which will not all
be taxed in the same way.
Ticket sales
When selling tickets for a sports event, it is likely that, at least, one ticket selling agent will be engaged. The agency will receive a commission for the tickets sold or a fixed fee. The income received by the organiser will generally be regarded as business profits within art. 7 of the OECD Model Tax Treaty. Tax will, therefore, arise in the state in which the organiser is resident, unless there is a permanent establishment (“PE”) of the organiser located in the country in which the tickets are sold. Due to discrepancies in what constitutes a PE in different circumstances, it can be necessary to examine the position based on how tickets are sold. For example, tickets sold online are likely to be through a website and utilise a server. Whether that server constitutes a PE can be the subject of a whole article but, in general, a server operated by the organiser is likely to form a PE, whereas a third-party server will not. In the former case, a share of the profit arising from the ticket sales may be allocated to the country in which the server is located. In the latter case, this is unlikely, so the profits would be fully taxable in the country where the organiser is located.
Where tickets are sold at physical vending points, there may be a PE established in that country. Once again, a share of the profits from the ticket sales may then be taxed in that country if the organiser is not already tax resident in that country.
A further issue that will need to be considered is the effect of art. 17. Where a payment is made linked to the personal performance of a sportsperson, that payment may be taxed in the country of performance under some double tax treaties. The tax would normally be collected by way of a withholding tax. In some countries, the requirement can extend to payments that are made between two parties located outside the country of performance, such as was decided in the Andre Agassi case[1] in the UK. In most cases, it will be possible to avoid this withholding tax, but this may require an approach to the tax authorities in advance.
Lastly, the impact of Value Added Tax (“VAT”) must be considered. The general position is that the place of supply of the services that results from the sale of a ticket to the person who will attend the event will be the country in which the event takes place. It will then be necessary to account for VAT on the ticket sales. However, where the payment is made between two businesses, the place of supply may be the country in which the payer is located. For example, an individual who buys a ticket for an event in the UK will pay VAT as part of the ticket price. The ticket seller will be required to account for VAT in the UK and, assuming the seller is an agent, will pay on the ticket price to the organiser less commission. If the ticket seller is in the UK, then the place of supply will be in UK. However, if the ticket seller is based in another country, the place of supply may be in another country. Add to this the complicated VAT rules on cross-border supplies, such as the “reverse charge” procedure in Europe, and it can be seen that the VAT position of the ticket sales can require detailed analysis to ensure the organiser is compliant.
Sponsorship
Sponsorship payments to the organisers will, generally, be taxed where the PE of the organiser is located under art. 7. However, the sponsor of an event, such as the FIFA World Cup, would acquire the right to use the logo and/or other intellectual property associated with the event. This would usually be for a licence fee with the payment being regarded as a royalty. The taxing rights would then be determined under art. 12 with a requirement to withhold tax in many cases.
For VAT, a supply of sponsorship is likely to be between two businesses with the place of supply being where the sponsor is located.
TV and media rights
The tax treatment of payments for TV and media rights will often depend upon definitions within tax treaties. In particular, the definition of a royalty may include payments for transmissions by satellite, cable, fibre optic. Where there is a right to transmit a live event, it will fall within art. 12 and be treated as a royalty. However, where the event is not transmitted live, a royalty will generally only arise if a copyright is exploited. Whether a copyright is being exploited is a matter for domestic law and so whether the receipt is a royalty or part of business profits can depend upon a number of factors.
For VAT, once again, the payments will be between businesses and so the place of supply will be where the broadcaster is located.
Merchandise
An organiser will generally licence the right to produce and sell merchandise connected with an event. In such cases, the payment received will, generally, be a royalty and the place of supply for VAT will follow the “business to business” rules referred to above. Where, however, the organiser produces their own merchandise, then any profits will fall to be taxed as part of the business profits of the event. For VAT purposes, the place of supply will be where the goods are physically sold in most cases. This may be the country in which the event takes place or, where merchandise is sold online, it may be where the customer is located. In the latter case, this can result in a requirement to register for VAT in the customer’s country.
Payments made
The sports events’ organisers are also likely to make payments to a number of different persons. Again, a number of different tax consequences may arise.
Competing sportspersons and/or teams
Payments to individuals, who compete in the event, will normally fall within art. 17. This is likely to impose a requirement to deduct tax on the organiser, as mentioned above. However, some participants may require payments for the use of their image in promotional or other material. They may also have an image rights structure to which such payments are made. In this case, the payment may constitute a royalty.
Where the payment is made in relation to a team, then it may or may not fall within art. 17 depending upon the interpretation of the country of performance. Where a country does not regard the payment as relating to the personal services of an individual sportsperson, then the payment may be for business profits.
Organising bodies
An international sports organising body may licence the right to hold an event to another body who will organise the event. The organiser will then pay a fee for the right to hold the event which is likely to be regarded as a royalty.
Venue owners
The venue(s) where an event is to be held are unlikely to be owned by the organisers. It will, therefore, be necessary to “rent” the use of venues. Any payment will fall within art. 6, which would not impose any particular tax obligations on the organiser. However, the place of supply for VAT will be the location of the property and should be factored into the budgeting process.
Suppliers of goods or services
The payments for goods or services are unlikely to give rise to any particular issues other than VAT again. However, some consideration will need to be given as to the type of payment made to ensure any requirements to withhold tax are met.
Employees
A number of individuals will be required when holding an event. Some may be volunteers, but others will be remunerated for their work. Where the individuals who will work at the event, are employed by a separate agency company, then the organiser will just pay a fee for the services provided.
Where, however, there are individuals employed by the organiser, there will be a need to consider the employment law obligations in the country in which the event takes place. This may pose obligations to confirm right to work, ensure minimum pay levels are met and also consider the impact of employment rights, health and safety, and so on.
The impact of payroll taxes will also need to be considered to ensure any requirements to deduct tax, social security payments and other deductions are met.
The above is not exhaustive but should highlight a number of areas that need to be considered. As always, full advice at an early stage is recommended.
Tournament tax exemptions
In order to deal with the tax complications that can arise at international tournaments, some organising bodies insist on tax exemptions. It is a requirement of FIFA and UEFA that tax exemptions are granted to sportspersons who play at their tournaments and finals. The failure to give an exemption was reported as the reason the UEFA Champions League final was not awarded to London resulting in a special tax measure being introduced for the 2011 final. Those special measures only extended to non-resident players, however, so the incentives to win for Barcelona were perhaps greater than for Manchester United in that final!
A similar exemption is required to be granted for countries which host the Olympic Games. However, for the London Olympics in 2012, the exemptions applied to the income derived from performance at the Games or in promoting the Games. Any sponsorship or endorsement income that was not received from an official sponsor of the Olympics was not covered. It is, therefore, important for any sportsperson playing in a tournament, that does allow for tax exemptions, to be certain of what, exactly, will be exempt.
Plan in advance
In conclusion, careful planning in advance is required to ensure compliance with tax law and avoid problems for sports events’ organisers. This should include:
– reviewing the rules for determining tax residence in any jurisdiction for the organisers. The rules on what constitutes a PE can differ between countries and it is important to plan carefully;
– reviewing the tax legislation for countries in which the event will take place and also for other countries where activity surrounding the event will be undertaken;
– reviewing the application of ddouble tax treaties, in particular, the articles related to business profits, royalties and artists and sportspersons;
– seeking advice from someone who has knowledge of the tax law in the country in which the event will take place and also the impact of international tax issues;
– not forgetting to consider the impact of VAT and other indirect taxes. These taxes are often overlooked when planning an event.
Conclusion
CAS Legal Aid Rules updated
We would mention that the CAS Legal Aid system, which helps athletes who do not have sufficient financial means to access CAS arbitration, has been updated.
Art. S6, para. 9, of the CAS Code of Sports-related Arbitration has been amended to reflect that, in 2023, the International Council of Arbitration for Sport (“ICAS”), the Ggoverning body of CAS, will manage two separate legal aid funds: the existing one (general fund) and a new Football Legal Aid Fund (“FLAF”) dedicated to football disputes. The FLAF will be exclusively financed by FIFA, the world governing body of association football, whilst the general fund will continue to be financed by the Olympic Movement as a whole.
The updated rules are as follows.
“Guidelines on Legal Aid before the Court of Arbitration for Sport as from 1 February 2023 General provisions
Art. 1 These Legal Aid Guidelines (Guidelines) are established by the International Council of Arbitration for Sport (ICAS) in accordance with Article S6.9 of the Code of Sports-related Arbitration (the Code) to facilitate access to the Court of Arbitration for Sport (CAS) for natural persons without sufficient financial means and to defend their rights when the interests of justice so require. These Guidelines are intended to be gender-neutral.
Art. 2 The Guidelines apply in:
(a) matters involving sports included in the sports program of the edition of the Olympic Games or the Olympic Winter Games following the filing of the application for legal aid;
(b) matters related to football, in accordance with the specific provisions on the Football Legal Aid Fund (FLAF) and
(c) Ordinary Arbitration, Anti-Doping and Appeal Division procedures.
Art. 3 The ICAS is responsible for financing legal aid and ensuring that this legal aid scheme is sufficiently well-funded from its reserves. The FLAF reserve is exclusively provisioned by the FIFA contributions earmarked for the FLAF.
Art. 4 The ICAS exercises its legal aid functions through the Athletes’ Commission (hereafter: the Commission), composed of the four ICAS members appointed pursuant to Article S4 d) of the Code with a view to safeguarding the interests of athletes, to decide on requests for legal aid in their absolute discretion.
Art. 5 Subject to the Specific provisions applicable to the Football Legal Aid Fund (FLAF), legal aid may:
(a) be granted, based on a reasoned request accompanied by supporting documents, to any natural person whose income and assets are not sufficient to allow the person to cover the costs of proceedings without drawing on that part of the person’s assets necessary to support the person and the person’s family.
(b) consist of any or all of the Applicant:
- being released from having to pay the costs of the procedure or an advance of costs provided that such release will be denied if:
– the Applicant does not take all necessary steps to reduce such costs including requesting a Sole Arbitrator; or
– the Arbitration Agreement referring to CAS provides that a 3-member Panel be appointed and the Respondent refuses to pay any advance of costs; or
– the Applicant is the Respondent and is not required to pay a share of such costs;
- choosing pro bono counsel from the CAS list referred to in Art. 22; and
- in the event a hearing has been ordered by the Panel, being granted a lump sum for the Applicant’s travel and accommodation costs and those of the Applicant’s witnesses, experts and interpreters provided that they have been duly called to appear with the authorisation of the Panel, as well as the travel and accommodation costs of pro bono counsel.
Art. 6 Legal aid will be denied if it is obvious that CAS has no jurisdiction or the Applicant’s claim or grounds of defence are frivolous or vexatious. Legal aid cannot be granted to sports bodies, associations, clubs or to any other legal entities, subject to Article 8 below.
Specific provisions applicable to the Football Legal Aid Fund (FLAF)
Art. 7 The FLAF is used in football matters referred to CAS. Legal Aid from the FLAF may be granted to any natural persons, including agents provided that they have a FIFA licence, without sufficient financial means to proceed at the CAS.
Art. 8 Legal aid may be exceptionally granted to any football club affiliated to a member association of FIFA and belonging to the club category IV of the FIFA table on the categorization of clubs for training compensation. The applicant club shall demonstrate with written evidence that it belongs to the club category IV at the time the request for legal aid is filed and that its financial situation does not allow it to cover any arbitration costs, i.e. that the obligation to cover such costs would affect its ability to punctually fulfil its payment obligations towards employees or social/tax authorities.
Art. 9 Legal aid may be granted to the same football club for not more than one CAS arbitration procedure per calendar year and only in disputes between clubs or between clubs and federations exclusively. Legal aid cannot be granted to clubs under judicial administration (due to insolvency/bankruptcy).
Art. 10 When Legal Aid from the FLAF is granted, the arbitrators appointed to act in the procedures concerned shall perform their work pro bono.
Application Procedure
Art. 11 Legal aid may be requested by:
(a) the Claimant/Appellant (Applicant) once the request for arbitration/statement of appeal is filed and the CAS Court Office fee is paid. The Applicant may however choose not to pay the CAS Court Office fee pending the decision on request for legal aid. In such situation, the arbitration procedure is not initiated before the decision on request for legal aid is rendered. The Respondent(s) shall be informed of the existence of a claim/appeal but it/they are not entitled to receive a copy of any submission or procedural document before an arbitration procedure is officially initiated. No CAS Court Office fee shall be paid when an applicant is released from having to pay arbitration costs; and if the CAS Court Office fee has been already paid, it shall be reimbursed. Should the application for Legal Aid be rejected, the Court Office fee shall be paid by the Claimant(s) / Appellant(s) within the time limit fixed by the Commission.
(b) the Respondent as soon as the Respondent receives the request for arbitration/statement of appeal. Following this, legal aid may be requested or reconsidered at any time in the procedure but only for future costs and not granted retroactively.
Art. 12 A request for legal aid shall be sent in writing, including by electronic mail (
Art. 13 The Applicant shall supply all the information necessary to establish the Applicant’s financial situation, accompanied by the supporting documents specified in the Application Form for Legal Aid. The Applicant shall also set out, in summary fashion, the Applicant’s grounds for the claim/appeal/defence in order to establish that the claim/appeal/defence has legal basis. The Applicant is requested to authorise state institutions and third parties to provide confidential information on the Applicant’s financial means. In the event any relevant information, documents or other evidence (evidence) appears to be missing, the CAS Court Office may invite the Applicant to provide the missing evidence, failing which the request for legal aid may be denied.
Art. 14 In deciding on the request for legal aid, the ICAS Athletes’ Commission shall give brief reasons for their decision. The decision is communicated to the Applicant and is not subject to appeal. The procedure for requesting legal aid is free.
Art. 15 All beneficiaries of legal aid (the beneficiary) shall immediately advise the CAS Court Office of any change in the circumstances on which the legal aid was granted, as well as the occurrence of any other fact relevant to the granting of legal aid.
Art. 16 An Applicant for legal aid may request that the application be reconsidered in circumstances where the Applicant’s financial situation deteriorates significantly after the initial request for legal aid was considered and denied in whole or in part. Other than taking into account the Applicant’s changed financial situation, the same provisions governing requests for legal aid shall apply to reconsiderations of requests.
Art. 17 Legal aid takes effect from the day it is requested and ends, unless revoked by the Commission in the meantime, at the end of the CAS proceedings.
Art. 18 The Commission may withdraw all or any portion of legal aid granted if it finds that the beneficiary is no longer entitled to it, or if the legal aid was improperly granted. Any decision to withdraw legal aid must be issued with reasons and is not subject to appeal. The withdrawal of legal aid may have a retroactive effect.
Costs
Art. 19 In accordance with Article R64 of the Code, at the end of the proceedings the CAS Court Office shall determine the final amount of the costs of arbitration. In accordance with the Code, the Panel shall determine in the final arbitral award which party shall bear the arbitration costs or in which proportion the parties shall share them. As a general rule, the Panel has discretion to grant the prevailing party a contribution towards the prevailing party’s legal fees and other expenses incurred in connection with the proceedings.
Art. 20 At the end of the proceedings, the beneficiary of legal aid can be ordered to pay costs. However, the CAS may waive its right to claim such costs. The beneficiary can also be ordered to pay a contribution towards the legal fees of the prevailing party in which case the beneficiary must pay the contribution ordered. It will not be paid by CAS.
Art. 21 If the other party in proceedings with the beneficiary of legal aid is ordered to bear the costs of such proceedings, then the other party shall pay such costs to the CAS without regard to any legal aid having been granted. If the beneficiary of legal aid is fully or partially successful in proceedings involving a monetary claim and is ordered to bear a portion of the costs of such proceedings, then the legal aid is automatically withdrawn and CAS shall request the beneficiary to pay its share of such costs of such proceedings up to a maximum of 20% of the amount granted to it in the arbitral award.
Role of Pro Bono Counsel
Art. 22 The CAS Court Office shall establish a list of volunteer lawyers (pro bono counsel), competent in international arbitration and/or sports law and able to work in the official languages of the CAS. If deemed appropriate, the CAS Court Office may publish this list. The list is given to the beneficiary of legal aid who can freely choose pro bono counsel. The beneficiary of legal aid may terminate the legal relationship with the pro bono counsel at any time. The pro bono counsel may be released from the legal relationship with the authorization of the Sole Arbitrator or President of the Panel. If necessary, the beneficiary may request from the CAS Court Office a replacement pro bono counsel. Neither the ICAS nor CAS can be held in any way responsible for the activities undertaken or the advice given by pro bono counsel when assisting the beneficiary.
Art. 23 If the Commission authorizes the appointment of pro bono counsel, the pro bono counsel must agree:
(a) to work for free;
(b) within the scope of the mandate to represent the beneficiary before CAS; and
(c) limit the pro bono counsel’s activity to what is necessary to protect the beneficiary’s interests, taking into account the nature, importance and difficulty of the case and professional services expected. Pro bono counsel cannot refuse to accept a case without good reason and may not ask the beneficiary to pay any fees or expenses, nor accept any payment from the beneficiary.
Conditions for Reimbursement
Art. 24 Except in exceptional circumstances, the CAS does not pay the expenses of the beneficiary of legal aid or the beneficiary’s counsel in advance. At the end of the arbitration, if the Commission has decided in advance, the beneficiary and/or the beneficiary’s counsel may request reimbursement of all or any portion of the expenses incurred by them in accordance with Art. 5 b) 3 of these Guidelines. The claim must include receipts for expenses for which reimbursement is claimed. Unless otherwise determined by the Commission, the CAS pays the amount claimed for reimbursement up to the lump sum awarded in the decision to grant legal aid. Any decision on reimbursement is not subject to appeal.
Confidentiality
Art. 25 The procedure for granting legal aid is confidential. None of the CAS Court Office, CAS arbitrators or Members of the Commission shall disclose any part of the legal aid application or any supporting evidence to third parties, subject to requests from state judicial authorities. The CAS Court Office must:
(a) inform the other parties involved in the arbitration that legal aid has been granted to the applicant; and
(b) deliver to the Panel the legal aid order for information.
Transitional and Final Provisions
Art. 26 These Guidelines shall apply to arbitration procedures initiated as from 1 February 2023. These Guidelines entered into force on 1 September 2013 and were amended on 1 January 2019, 1 November 2020 and 1 February 2023.”
Articles in this issue
We now turn our attention to some of the interesting and topical articles that you will find in this issue.
As you will see from the Table of Contents, we include a wide range of topical sports law and sports tax articles, which will engage and inform our readers’ attention and also provide them with many things to consider and ponder. Amongst them, we would draw your particular attention to the following articles:
– “The Metaverse and Sport” by Ian Felice and Joseanne Bear of the Gibraltar International Law Firm, Hassan’s. In their introduction they write:
“The metaverse is now more than just a buzzword. There is no doubt that it has captured the world’s attention since Mark Zuckerberg rebranded Facebook to Meta in 2021 with a focus on bringing the metaverse to life.
The metaverse, however, is not a new concept and can be traced back to 1992 when author Neal Stephenson introduced it into his sci-fi novel Snow Crash as a virtual reality space where people could interact with each other and with digital objects. Additionally, games and technologies creating a more reality-based internet have been emerging for decades.
One industry that is expected to be revolutionised by the metaverse is sports. From deeply immersive e-sport games, to attending virtual football matches and meeting your favourite sports star’s avatar, there are many ways in which the sports industry is evolving through the metaverse. But with change comes challenges, particularly from a regulatory angle.
This article aims to provide readers with an understanding of what the metaverse is, how it is changing the sporting world and the consequential legal issues that may arise. We will explore the jurisdiction of Gibraltar, a global frontrunner in regulating fintech and the digital asset industry, as a budding jurisdiction for metaverse development.
This article aims to provide readers with an understanding of what the metaverse is, how it is changing the sporting world and the consequential legal issues that may arise. We will explore the jurisdiction of Gibraltar, a global frontrunner in regulating fintech and the digital asset industry, as a budding jurisdiction for metaverse development.”
They reach the following conclusions:
“Whether one supports the idea of life being further integrated into the digital world or not, it seems inevitable that we will see significant advancements regarding the metaverse over the next few years.
Time will only tell how far the sports industry will evolve but, as it develops, these authors hope that the legal frameworks protecting its users will too.”
– An article on “A legal tour through the new FIFA Clearing House” by Frans de Weger and Mart Meijer of BMDW Advocates, Haarlem, The Netherlands. In their introduction, they write:
“On 26 October 2018, the FIFA Council approved the first package of measures under the reforms of the international transfer process. Part of this was setting up a “clearing house” to better administer and process transfers with the aim of protecting the integrity of football and preventing fraudulent actions.
The objectives of the so-called “FIFA Clearing House” are to centralize and automate payments between clubs, primarily with regard to the payment of training fees and solidarity contributions, and subsequent phase payments to agents and transfer fees.
FIFA wants the circulation and distribution of the money circulating in the football world to be more insightful and transparent. In addition, FIFA wants the distribution of funds to be fairer, in the sense that clubs that are entitled to training fees and solidarity contributions in accordance with the FIFA Regulations on the Status and Transfer of Players (“RSTP”), because of their previous investments in the training of former players would actually receive these allowances.
The FIFA Clearing House has been active since 16 November 2022. With this, FIFA expects to take a big step in the context of financial transparency and integrity within the international transfer system.
This article will explain how FIFA is planning to take this step. First, the underlying thoughts of the Clearing House are outlined. Subsequently, the process and operation of the Clearing House will be discussed, focusing on the most relevant provisions under the FIFA Clearing House Regulations (“FCHR”).”
Amongst their concluding remarks, the authors point out that:
“If the FIFA Clearing House succeeds in its mission, the international football industry will not only have an efficient and fairer system in terms of distributing training rewards, but the FIFA Clearing House will have more relevant information and knowledge.”
– Also an article on “NFTs in Sport in Italy” by Alberto Brazzalotto and Biagio Izzo of Maisto E Associati, Law Firm, Milan, Italy. In their introduction, they write:
“Non-fungible tokens (“NFTs”) are digital assets stored in the blockchain. Because NFTs are uniquely identifiable, they differ from cryptocurrencies, which are fungible. NFTs typically contain references to digital files such as artworks, photos, videos, and audio.
NFTs have seen substantial growth in the last few years, revolutionizing various industries such as arts, gaming, music, and sports.
“The popularity of NFTs in Italy is growing steadily as artists are using this tool to market their work: as a matter of fact, Italy has been identified as a “pioneer in generating NFT artists […] helping the country get the title of “crypto art Renaissance””, ranking third globally in 2022 for total gross sales in the main NFT market TremendousRare.
Within this context NFTs represent a significant new revenue stream also for sports organizations, clubs, and athletes that are experiencing new ways to promote collectible options and enhance relationships with fans. Traditional players trading cards are thus transformed into different forms of NFTs contemplating a digital representation of a player or a digital media of a unique sport performance
[...]
Hence, the use of NFTs in the sports industry raise several tax implications that depend largely on the different stakeholders involved in the business model, the nature of the transactions and the contractual arrangements. In the present contribution we will explore, particularly:
1 the Italian tax ramifications arising from the granting of image rights for the creation of the NFTs; and
2 the Italian tax treatment of the income earned by individuals from the disposal of the NFTs.”
The authors reach some interesting conclusions in their article.
As always, we would welcome and value your contributions in the form of articles and topical case notes and commentaries for our journal and also for posting on the SLT dedicated website www.sportslawandtaxation.com, which has an increasingly wide international footprint!
So, now read on and enjoy the June 2023 edition of SLT.
Dr. Rijkele Betten (Managing Editor)
Prof. Dr. Ian S. Blackshaw (Consulting Editor)
June 2023
[1] Agassi v. Robinson (Her Majesty’s Inspector of Taxes) [2006] UKHL 23.