Market leading insight for tax experts
View online issue

Total: just and reasonable profit apportionment

Speed read
The Court of Appeal has decided, in Total, that companies which would be disadvantaged by a time based apportionment of oil related profits for the purposes of the supplementary charge could elect for a different profit apportionment method, even if their profits were uneven only because of common (rather than exceptional) industry factors. The court also applied a more flexible approach to assessing alternative methods than the Upper Tribunal had. The decision may be relevant to other apportionment provisions.

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:

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this article in full.
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
EDITOR'S PICKstar
Top