Doha: HM Revenue & Customs lost its bid before the British Court of Appeal to recover up to £50 million in stamp duty from the sale of the Chelsea Barracks in 2007.
Three Court of Appeal judges ruled that the tax office, HM Revenue & Customs, pursued the wrong party for the tax.
Details of the case show that a company owned by the Qatar Investment Authority used a type of Islamic finance, which means that a bank actually owned the property.
The tax office had won a decision in a tribunal in December 2014 for £38 million stamp duty land tax to be paid, based on a £959 million purchase price for the site, reported local Arabic daily Al-Raya.
However, this decision was then taken to the Court of Appeal.
HMRC then sought stamp duty land tax worth £50 million against the £1.25 billion paid by the bank to Project Blue.
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