Roopa Aitken and Natalie Carroll of Grant Thornton UK LLP (joint advisers to the taxpayer) consider the implications of the latest European Union (EU) loss relief case
On 18 August 2009 the First-tier Tax Tribunal judges John Avery Jones CBE and Roger Berner released their decision in the Philips Electronics UK Ltd [2009] UKFTT 226 (TC) loss relief case in favour of the taxpayer. The case concerns a UK company's claims to offset losses of a UK branch (of a Dutch company) against its profits. The claims were made on the basis that the UK group and consortium relief rules are contrary to European law.
The judgment is an historic one since it is the first time that the UK courts have decided an EU direct tax matter without a...
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Roopa Aitken and Natalie Carroll of Grant Thornton UK LLP (joint advisers to the taxpayer) consider the implications of the latest European Union (EU) loss relief case
On 18 August 2009 the First-tier Tax Tribunal judges John Avery Jones CBE and Roger Berner released their decision in the Philips Electronics UK Ltd [2009] UKFTT 226 (TC) loss relief case in favour of the taxpayer. The case concerns a UK company's claims to offset losses of a UK branch (of a Dutch company) against its profits. The claims were made on the basis that the UK group and consortium relief rules are contrary to European law.
The judgment is an historic one since it is the first time that the UK courts have decided an EU direct tax matter without a...
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:
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