Group relief provisions: whether valid under EU law
In Felixstowe Dock & Railway Co Ltd v HMRC (and related appeals) (TC01674 – 10 January) several members of a group of companies (with an ultimate Hong Kong parent) claimed group relief in respect of losses made by a UK company (HUK) through an intermediate holding company (HS) which was resident in Luxembourg. HMRC rejected the claim on the basis that the effect of ICTA 1988 s 402(3B) and s 406(2) was that the companies were not entitled to relief. The companies appealed contending that the relevant UK provisions contravened EU law. The First-tier Tribunal directed that the case should be referred to the CJEU for a ruling on whether Articles 49 and 54 of the TFEU should be treated as precluding ‘the requirement that the "link company" be either resident in the United Kingdom or carrying...
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Group relief provisions: whether valid under EU law
In Felixstowe Dock & Railway Co Ltd v HMRC (and related appeals) (TC01674 – 10 January) several members of a group of companies (with an ultimate Hong Kong parent) claimed group relief in respect of losses made by a UK company (HUK) through an intermediate holding company (HS) which was resident in Luxembourg. HMRC rejected the claim on the basis that the effect of ICTA 1988 s 402(3B) and s 406(2) was that the companies were not entitled to relief. The companies appealed contending that the relevant UK provisions contravened EU law. The First-tier Tribunal directed that the case should be referred to the CJEU for a ruling on whether Articles 49 and 54 of the TFEU should be treated as precluding ‘the requirement that the "link company" be either resident in the United Kingdom or carrying...
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