‘Two companies have lost their claim for group relief where the surrendering company went into receivership. The Court of Appeal said that when the receivers were appointed the shareholders of the surrendering company lost control, which meant that group relief was denied.’
OUT-LAW.com, 27th February 2019
Source: www.out-law.com
‘UK taxpayers and third parties have no right to attend a tax tribunal hearing to consider the issue of notices by HM Revenue & Customs (HMRC) requiring the provision of information relevant to tax enquiries, the first-tier tax tribunal has decided.’
OUT-LAW.com, 12th December 2018
Source: www.out-law.com
‘Statutory interest paid by a company in administration on a surplus is ‘yearly interest’ for UK tax purposes and must therefore be paid after deduction of basic rate tax, the Court of Appeal has decided, overturning a previous decision of the High Court.’
OUT-LAW.com, 5th January 2018
Source: www.out-law.com
‘A legal challenge brought against changes to the way remote gambling operations are taxed in the UK has faltered before the EU’s highest court.’
OUT-LAW.com, 13th June 2017
Source: www.out-law.com
‘The legislation to introduce restrictions on corporation tax deductions for interest payments will not be included in the UK Finance Bill that will become law before the general election. The government tabled amendments to the bill withdrawing most of its provisions before it went through the remaining House of Commons stages on 25 April.’
OUT-LAW.com, 27th April 2017
Source: www.out-law.com
Supreme Court, 17th February 2016
‘Catalogue company Shop Direct must pay corporation tax on a £125 million repayment of VAT overpaid by companies in the group that no longer trade, the Supreme Court has confirmed.’
OUT-LAW.com, 18th February 2016
Source: www.out-law.com
‘In Bloomsbury Verlag GmbH v HMRC [2015] UKFTT 660 (TC),the First-tier Tribunal (Tax and Chancery) (FTT) has held that the four-year time limit does not apply to corporation tax self-assessment returns and that trading losses can be carried forward even though they were not included in a return.’
RPC Tax Take, 8th January 2016
Source: www.rpc.co.uk
‘Richard Holme, Chartered Accountant of Creaseys, a firm which specialises in advising family lawyers on tax related family law issues, explains the Budget changes of most relevance to family lawyers.’
Family Law Week, 8th July 2015
Source: www.familylawweek.co.uk
Corporation Tax (Northern Ireland) Act 2015 published
Source: www.legislation.gov.uk
‘In Gemsupa Limited and Consolidated Property Wilmslow Limited v HMRC [2015] UKFTT 0097 (TC), the First-tier Tribunal (Tax Chamber) (“FTT”) found that an avoidance scheme designed to avoid corporation tax on chargeable gains on the disposal of properties through the use of share sales and options to create and then disband a group was effective.’
RPC Tax Take, 25th March 2015
Source: www.rpc.co.uk
‘Companies that fail to prevent tax evasion could face penalties as part of plans announced by Danny Alexander.’
BBC News, 22nd February 2015
Source: www.bbc.co.uk
‘In Beacon Estates (Chepstow) Ltd v HMRC [2014] UKFTT 686 (TC), the First-tier Tribunal (Tax Chamber) (‘FTT’) allowed the taxpayer’s appeal, holding that ‘with a view to’ in section 393A(3), Income and Corporation Taxes Act 1988 (‘ICTA’)[1] imports an objective test when considering relief for trading losses.’
RPC Commercial Disputes Blog, 6th August 2014
Source: www.rpc.co.uk
Marks & Spencer plc v Revenue and Customs Commissioners (No 2) [2014] UKSC 11; [2014] WLR (D) 90
‘A company was entitled to make successive claims to cross-border group relief against corporation tax in relation to the same loss incurred in the same accounting period by a European subsidiary which had gone into liquidation and then to withdraw any earlier claims in respect of the same surrendered loss which did not meet the subsequent judicially determined test, subject to the claim ultimately relied upon not being statute-barred.’
WLR Daily, 19th February 2014
Source: www.iclr.co.uk
Commissioners for Her Majesty’s Revenue and Customs (Appellant) v Marks and Spencer plc (Respondent); Commissioners for Her Majesty’s Revenue and Customs (Respondent) v Marks and Spencer plc (Appellant) [2014] UKSC 11 & [2013] UKSC 30 (YouTube)
Supreme Court, 19th February 2014
Prudential Assurance Co Ltd v Revenue and Customs Comrs [2013] EWHC 3249 (Ch); [2013] WLR (D) 411
“It was within the scope of conforming interpretation to construe section 790 of the Income and Corporation Taxes Act 1988 as providing for the grant of a tax credit for foreign dividends to the extent necessary to secure compliance with European Union (‘EU’) law.”
WLR Daily, 24th October 2013
Source: www.iclr.co.uk
“Gambling operators could lose their licence to advertise and trade in Great Britain if they fail to comply with a new tax regime where liability for UK tax is based on the location of the customer rather than the gambling operator.”
OUT-LAW.com, 20th August 2013
Source: www.out-law.com
“Details of fines included on a second public list of tax defaulters shows that HM Revenue and Customs (HMRC) is ‘cracking down harder than ever before’ on businesses and individuals that deliberately underpay tax, an expert has said.”
OUT-LAW.com, 15th May 2013
Source: www.out-law.com
“The McLaren racing team is entitled to claim a corporation tax reduction in respect of a £32 million fine levied by the motor racing governing body because the fine was not a criminal penalty imposed by statute, a tribunal has held.”
OUT-LAW.com, 11th October 2012
Source: www.out-law.com
“The BBC’s chief finance officer, Zarin Patel, is suing the Daily Star for libel over two stories about the tax affairs of corporation staff.”
The Guardian, 5th September 2012
Source: www.guardian.co.uk
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