Take 3.9 TV Partnership & Ors v The Commissioners for HMRC
Decision date: 15 October 2026
Neutral citation: [2026] UKFTT 1461 (TC)
Overall AI summary confidence: medium
Short overview
This short overview is intended to summarise the case, issues and outcome so far as they are supported by the judgment.
AI confidence in this short overview: medium
This case concerns how to apportion non-Peakviewing profits and losses of four Take 3 partnerships between the T3 Equity (trading) and T3 Debt (non‑trading) components. The First‑tier Tribunal accepted the Respondents' apportionment method and figures for 2001/02, but for 2002/03 adopted a modified method that separates gross income and gross expenditure, apportions each by partner/debt funding using Production Schedules, and nets the results to identify the equity share. The Tribunal set final trading and non‑trading figures for Take 3.9, 3.10, 3.12 and 3.13 and recorded appeal rights.
Ratio decidendi
This summary is intended to identify the ratio decidendi, meaning the legal reasons for deciding and the binding part of the decision.
AI confidence in this ratio decidendi summary: medium
Where distinct partner contributions and debt funding can be identified from production schedules, expenditure and income should be apportioned proportionately between equity (partner) and debt funding; if a net figure comprises discrete gross income and gross expenditure with different funding mixes, those components should be separated and apportioned individually before netting to determine the equity (trading) share.
Obiter dicta
This summary is intended to identify obiter dicta, meaning observations made by the way that were not necessary to deciding the case and are not binding.
AI confidence in this obiter dicta summary: medium
The Tribunal noted that agreed figures fixed at the start of hearing should not be reopened without evidence justifying re‑examination, and that a mere assertion of alternative calculation methods is insufficient—concrete alternative calculations are required to displace a proposed method.
Warning
- The chunk contains duplicated text and extensive numerical tables; care needed when transcribing figures. Notes contain duplicated text and extensive numerical tables; the summary omits detailed figures and relies on the extracted methodology and outcome statements.