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Finance Act 2020 and recovering non EU-compliant taxes

Finance Act 2020 and recovering non EU-compliant taxes
Published on: 30 September 2020
Published by: LexisPSL
  • Finance Act 2020 and recovering non EU-compliant taxes
  • What changes were made by the FA 2020?
  • What does this mean for taxpayers?
  • For how many past years can a taxpayer claim?
  • What should taxpayers do now?

Article summary

Tax analysis: Finance Act 2020 (FA 2020) made changes to the rules on share loss relief and losses on loans to traders. These were to make the rules comply with EU law, and took effect from 24 January 2019. This News Analysis considers these changes and the basis on which taxpayers can seek to recover tax which was levied in contravention of EU law, even in the absence of a specific statutory remedy. This means that affected taxpayers may be able to claim for losses that pre-date 24 January 2019. or take a trial to read the full analysis.

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