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Does TCGA 1992 s 13 still breach EU laws?

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13 December 2014
Card image Peter Cussons

Which taxpayers should review their position following the CJEU decision in EC v UK regarding TCGA 1992 s 13)? Peter Cussons, international corporate tax partner at PwC, considers the implications for taxpayers and believes further amendments to the legislation could be possible. 

In European Commission v UK (C-112/14) [2014] All ER (D) 146 (Nov) the CJEU granted the declaration sought by the European Commission that by adopting and maintaining tax legislation concerning the attribution of gains to participators in non-resident companies which provided for a difference in treatment between domestic and cross-border activities the UK had failed to fulfil its obligations under the Treaty on the Functioning of the European Union (TFEU)  art 63  and the Agreement on the European Economic Area art 40.

What did the CJEU decide?

The court decided that the TCGA 1992 s 13 was unlawful. By adopting and maintaining tax legislation concerning the attribution...

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