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Part of loan relationship loss disallowed as referable to period of non-UK tax residence.
Court of Appeal affirms a wide application of the loan relationships unallowable purpose test.
The Court of Appeal judgment restores order, write Sarah Bond and Helen Buchanan (Freshfields Bruckhaus Deringer).
Court of Appeal overturns Upper Tribunal decision on transfer pricing but upholds conclusion on unallowable purpose.
Recent decisions on intra-group VAT services, loan relationship debits and distributions from non-UK resident company are examined by Mike Lane and Zoe Andrews (Slaughter and May).
Loan relationship debits disallowed 
Tax Journal’s recent coverage of the Keighley case has largely focused on connected companies issues. Here, Mark Whitehouse and Mairead Cummins (PwC) focus on the other key issue in that case: the ‘gateway test’ for the deductibility of loan relationship debits.
Keighley on the loan relationship rules, Clipperton on purposive construction and the introduction of the Reserved Investor Fund are among the developments examined by Mike Lane and Zoe Andrews (Slaughter and May).
Private use of company credit card and tax treatment of loan write off.
In this month’s review, Mike Lane and Zoe Andrews (Slaughter and May) consider the Upper Tribunal decisions in JTI Acquisitions and Hotel La Tour, and HMRC’s latest annual report.