References: [2010] UKUT 213 (TCC), [2010] STC 2470
Links: Bailii
Coram: Warren J P, Sadler J
UTTC EUROPEAN LAW – group relief for losses of non-resident subsidiaries – whether there are no possibilities for those losses to be taken into account at the date of the group relief claim – date of valid claim where series of group relief claims – whether valid group relief claim can be made out of time – application of principle of effectiveness – method of quantifying losses for which group relief claim can be made
This case cites:
- At FTTTx – Marks and Spencer plc -v- Revenue & Customs FTTTx (Bailii, [2009] UKFTT 00005 (TC), [2009] SFTD 1, [2009] UKFTT 64 (TC))
FTTTx EUROPEAN LAW – group relief for losses of non-resident subsidiaries – whether there are no possibilities for those losses to be taken into account at the date of the group relief claim – no at the date of . .
This case is cited by:
- At UTTC – Revenue and Customs -v- Marks and Spencer Plc SC (Bailii, [2013] UKSC 30, [2013] WLR(D) 191, [2013] STI 1899, [2013] 3 All ER 835, [2013] BTC 162, [2013] 1 WLR 1586, [2013] STC 1262, [2013] 3 CMLR 36, WLRD, UKSC 2011/0241, SC Summary, SC)
The company wished to assign losses in its European subsidiaries against its profits. Since the losses were first claimed, the subsidiaries had gone into insolvent liquidation.
Held: Lord Hope said: ‘I would answer the first issue by rejecting . . - Appeal from – HM Revenue and Customs -v- Marks and Spencer Plc CA (Bailii, [2011] EWCA Civ 1156, [2011] STI 2843, [2011] BTC 589, [2012] STC 231, [2011] NPC 103)
The taxpayers claimed relief for losses incurred within their European subsidiaries. The claim having been referred to the ECJ, Moses LJ summarised the issues outstanding: ‘(i) Is the test that the ECJ established to identify those circumstances in . .
