The Vaccine Research Limited Partnership and Patrick Lionel Vaughan v The Commissioners for HM Revenue and Customs and The Commissioners for HM Revenue and Customs v The Partnership and Mr Vaughan:  UKUT 0389 (TCC)
Capital allowances – expenditure on research and development – whether partnership
trading – quantum of expenditure incurred on research and development – whether trade
conducted on a commercial basis – location of partnership’s trade – income tax relief for
interest incurred on borrowings to fund partnership capital – deductibility of fee incurred by
partnership in consideration for services – whether wholly and ordinarily incurred for the
purpose of the partnership’s trade.