The Court of Appeal has handed down its judgment in the Prudential case, in what is hoped to be one of the final steps of this long lasting action between taxpayers invested in cross border portfolio holdings and HMRC. Simon Whitehead and Philippe Freund (Joseph Hage Aaronson), who acted for the taxpayers, summarise the outcome of this judgment and explain why it has taken so long.
Lee Squires and Fiona Bantock (Hogan Lovells) look at recent developments, including: the decisions in Riskstop Consulting and Hedqvist; VAT on pension fund management costs; and the EC consultation on cross-border e-commerce.
Jason Collins (Pinsent Masons) reports on the recommendations in relation to international dispute resolution.
Peter Halford (PwC Legal) considers AG Kokott’s opinion in the ‘Austrian goodwill’ case, including its implications for the Commission’s appeals to the CJEU in the ‘Spanish goodwill’ cases.
Tony Beare (Slaughter and May) examines the recent eagerly anticipated First-tier Tribunal decision of Next Brand Ltd v HMRC on dividend boosters.
Sean McGinness (The VAT Consultancy) answers a query on VAT on cross-border business establishments
Christopher Morgan (KPMG) provides an update of recent developments, including: the OECD’s BEPS project; the CJEU decision in the EC’s challenge to UK cross-border relief; the Prudential Assurance case; the EC investigation into Belgium’s excess profit rulings; and news from Ireland and the US.
The CJEU judgment in European Commission v UK has rejected a challenge to the UK group relief legislation, following on from the Marks and Spencer litigation. Rupert Shiers (Hogan Lovells) reviews the decision and asks where this leaves us.
Bilateral investment treaties, which protect and promote cross-border investments, are one of many areas of law which may be relevant for tax lawyers. Timothy Lyons QC and Kelly Stricklin-Coutinho (Thirty Nine Essex Street) explain why
The CJEU has held that reverse charge VAT is due where an overseas entity recharges costs to a branch registered within a VAT group, in a decision that sits uncomfortably with the principle in FCE Bank. Nick Skerrett and Gary Barnett (Simmons & Simmons) consider the implications.