Andrew Goldstone and Katie Doyle (Mishcon de Reya) review the latest tax developments affecting private clients.
TCGA 1992 s 80 and EU law
In Trustees of P Panayi Accumulation & Maintenance Settlements v HMRC (Case C-646/15) on 21 December 2016 Advocate General Kokott of the CJEU provided an opinion on the First-tier Tribunal ruling in this case centred on the compatibility of TCGA 1992 s 80 with the freedom of establishment freedom to provide services and the free movement of capital under the Treaty on the Functioning of the European Union.
Section 80 provides that the migration of a trust resulting from trustees ceasing to be UK resident is a deemed disposal for CGT purposes of the trust fund at market value. The CJEU ruling in National Grid Indus BV (Case C-371/10) confirmed that while the state can charge tax during periods of residence...
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Andrew Goldstone and Katie Doyle (Mishcon de Reya) review the latest tax developments affecting private clients.
TCGA 1992 s 80 and EU law
In Trustees of P Panayi Accumulation & Maintenance Settlements v HMRC (Case C-646/15) on 21 December 2016 Advocate General Kokott of the CJEU provided an opinion on the First-tier Tribunal ruling in this case centred on the compatibility of TCGA 1992 s 80 with the freedom of establishment freedom to provide services and the free movement of capital under the Treaty on the Functioning of the European Union.
Section 80 provides that the migration of a trust resulting from trustees ceasing to be UK resident is a deemed disposal for CGT purposes of the trust fund at market value. The CJEU ruling in National Grid Indus BV (Case C-371/10) confirmed that while the state can charge tax during periods of residence...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
