Applicability of EU principles surrounding double taxation relief on pre-2009 foreign dividend income
In HMRC v Appellants in the Post Prudential Closure Notice Group Litigation [2025] EWCA Civ 166 (25 February) the Court of Appeal (CA) considered a number of procedural issues relating to the ongoing group litigation on the pre-2009 dividend regime which contravened EU law.
The taxpayers mostly investment funds all held portfolio investments in other companies (i.e. they held shareholdings of less than 10%). The dispute was about the corporation tax treatment of dividends received prior to 2009 (when the tax rules changed). Before the changes UK-source dividends were generally exempt but non-UK source dividends were not. In the case of portfolio holdings double tax relief was given only for any withholding tax suffered. No additional relief was available for underlying tax whether in respect of tax actually paid or tax at...
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Applicability of EU principles surrounding double taxation relief on pre-2009 foreign dividend income
In HMRC v Appellants in the Post Prudential Closure Notice Group Litigation [2025] EWCA Civ 166 (25 February) the Court of Appeal (CA) considered a number of procedural issues relating to the ongoing group litigation on the pre-2009 dividend regime which contravened EU law.
The taxpayers mostly investment funds all held portfolio investments in other companies (i.e. they held shareholdings of less than 10%). The dispute was about the corporation tax treatment of dividends received prior to 2009 (when the tax rules changed). Before the changes UK-source dividends were generally exempt but non-UK source dividends were not. In the case of portfolio holdings double tax relief was given only for any withholding tax suffered. No additional relief was available for underlying tax whether in respect of tax actually paid or tax at...
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