Greene King Plc and Another v Revenue and Customs: FTTTx 14 Jun 2012

FTTTx Corporation Tax – accounting treatment of intra-group transactions – loan relationship provisions – FA 1996, Part IV, Ch II- whether accounting treatment adopted GAAP compliant – no – FRS 5, 18 -interest strip – whether principal should be partially de-recognised in creditor’s accounts – yes – whether receipts of stripped interest within FA 1996 s 84(1)(b) – no – whether FA 1996 s 84(2)(a) applies – no – appeal dismissed

Citations:

[2012] UKFTT 385 (TC)

Links:

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Corporation Tax

Updated: 09 November 2022; Ref: scu.466264