Today’s Court of Appeal decision on the
Spencer group relief case has been hailed as a major victory for
In its judgment, the court ruled that taxpayers should have more time to
establish whether losses from non-UK subsidairies can be set against UK profits.
This effectively means that a company can claim group relief as long as there is
no ‘practical possibility’ of claiming the relief in the country where it was
The Justices Chadwick, Tuckey and Jacob also refused
HM Revenue &
Customs leave to appeal. HMRC will now have to apply to the House
of Lords appeals committee if it is to have any hope of taking the case further.
international tax partner Peter Cussons said the judgment was a welcome one
for the taxpayer.
‘This has been a long, drawn-out case, but there is a sense that this may be
the final aria,’ Cussons said.
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states