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Tax weekly highlights—17 December 2020

Published on: 17 December 2020
Published by: LexisPSL
  • Tax weekly highlights—17 December 2020
  • In this issue:
  • Companies and corporation tax
  • Court of Appeal reinstates FTT’s decision that Jersey-incorporated subsidiaries were UK tax resident (HMRC v Development Securities plc)
  • UT makes Court of Justice referral in group asset transfer case (Gallaher Ltd v HMRC)
  • HM Treasury launches second consultation on taxation of asset holding companies
  • Anti-avoidance
  • HMRC publishes consultation on follower notices and penalties
  • VAT
  • Single account required for VAT bad debt relief (Regency Factors v HMRC)
  • More...

Article summary

This week’s edition of Tax highlights includes: (1) the Court of Appeal’s judgment in Development Securities plc reinstating the FTT’s decision that Jersey-incorporated subsidiaries were UK tax resident, (2) the UT’s decision in Gallaher referring questions to the Court of Justice concerning the UK’s rules on transfers of assets between group companies, and (3) two new government consultations, one on follower notice penalties and one on alternative fund structures. or take a trial to read the full analysis.

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