Upper Tribunal decides that HMRC lawfully refused late claim under SP 5/01
In R (on the application of Rettig Heating Group UK Ltd (in liquidation)) v HMRC [2025] UKUT 143 (TCC) (6 May) the Upper Tribunal (UT) decided that HMRC lawfully refused the taxpayer’s claim to set off a non-trading loan relationship deficit (NTLRD) against profits for an accounting period that ended more than 18 years before the claim was made.
The taxpayer amended its return for the period ended 31 December 2002 to reduce its taxable profits by treating as exempt dividends from an Irish subsidiary. In consequence the taxpayer withdrew a claim to set off the NTLRD against its own profits and instead surrendered it as group relief.
The taxpayer made these changes because it believed that the rules charging the dividends to corporation tax were incompatible with EU law. Several court decisions (in the so-called ‘FII...
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Upper Tribunal decides that HMRC lawfully refused late claim under SP 5/01
In R (on the application of Rettig Heating Group UK Ltd (in liquidation)) v HMRC [2025] UKUT 143 (TCC) (6 May) the Upper Tribunal (UT) decided that HMRC lawfully refused the taxpayer’s claim to set off a non-trading loan relationship deficit (NTLRD) against profits for an accounting period that ended more than 18 years before the claim was made.
The taxpayer amended its return for the period ended 31 December 2002 to reduce its taxable profits by treating as exempt dividends from an Irish subsidiary. In consequence the taxpayer withdrew a claim to set off the NTLRD against its own profits and instead surrendered it as group relief.
The taxpayer made these changes because it believed that the rules charging the dividends to corporation tax were incompatible with EU law. Several court decisions (in the so-called ‘FII...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
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