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Another EU Loss Relief Case

Roopa Aitken and Natalie Carroll of Grant Thornton UK LLP (joint advisers to the taxpayer) consider the implications of the latest European Union (EU) loss relief case

 
Roopa Aitken and Natalie Carroll of Grant Thornton UK LLP (joint advisers to the taxpayer) consider the implications of the latest European Union (EU) loss relief case
 
On 18 August 2009 the First-tier Tax Tribunal judges John Avery Jones CBE and Roger Berner released their decision in the Philips Electronics UK Ltd [2009] UKFTT 226 (TC) loss relief case in favour of the taxpayer. The case concerns a UK company's claims to offset losses of a UK branch (of a Dutch company) against its profits. The claims were made on the basis that the UK group and consortium relief rules are contrary...

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