The Upper Tribunal reverses the FTT’s unhelpful decision in the Development Securities case providing comfort (at least for now) that a lot more is required than a subsidiary’s acquiescence to the parent’s will in order to attribute central management and control to the parent’s jurisdiction. The Court of Appeal agrees with the High Court in Minera Las Bambas that tax is not ‘payable’ for tax indemnity purposes until the appeal against the tax assessment has been determined by the relevant court. The latest tax gap figures show a decrease over the past decade or so in the corporation tax gap in part due to HMRC’s approach to tax risk and cooperative compliance as well as an abundance of measures to tackle non-compliance and aggressive tax planning. The FTT finds in favour of the taxpayer in ANO (No.1) Ltd that...
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The Upper Tribunal reverses the FTT’s unhelpful decision in the Development Securities case providing comfort (at least for now) that a lot more is required than a subsidiary’s acquiescence to the parent’s will in order to attribute central management and control to the parent’s jurisdiction. The Court of Appeal agrees with the High Court in Minera Las Bambas that tax is not ‘payable’ for tax indemnity purposes until the appeal against the tax assessment has been determined by the relevant court. The latest tax gap figures show a decrease over the past decade or so in the corporation tax gap in part due to HMRC’s approach to tax risk and cooperative compliance as well as an abundance of measures to tackle non-compliance and aggressive tax planning. The FTT finds in favour of the taxpayer in ANO (No.1) Ltd that...
If you are not a subscriber, subscribe now to read this content.
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