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Tax and the City review for March 2023

Mike Lane and Zoe Andrews (Slaughter and May) examine recent decisions of interest and the latest transfer pricing and diverted profits tax statistics.

Gallaher: group transfer rules imposing immediate tax charge were EU-compliant

Gallaher v HMRC (Case C-707/20) concerned two disposals by Gallaher (a UK company): the 2011 disposal of intellectual property to its Swiss sister company (JTISA) and the 2014 disposal of shares to a Dutch intermediate parent company (JTIH). In both cases the transferee was outside the scope of UK corporation tax and so prevented from having no gain/no loss treatment applied to those transfers under TCGA 1992 s 171 or the equivalent for intangible fixed assets in CTA 2009 s 775 and s 776. The question was whether the UK’s group transfer rules were contrary to EU law because they triggered an immediate tax charge with no option for deferring payment of the charge...

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