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Transfer of trade/tax losses: taxpayer wins in First-tier Tribunal

Global Tax Update:March 2015/United Kingdom

The First-tier Tribunal has given its decision in favour of the taxpayer, Leekes Ltd, which claimed relief for losses as a result of its succession to the business of Coles Ltd against the profits of the enlarged trade. (Global Tax Update:March 2015/United Kingdom)

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This newsletter explains following topics;

1. Transfer of trade/tax losses: taxpayer wins in First-tier Tribunal
2. Regulations to restrict share capital reductions in takeovers in force
3. Mandatory use of new XBRL taxonomy from 1 April 2015
4. Treasury Select Committee report on the Autumn Statement

>> Click for Japanese [事業譲渡に伴う欠損金の引継ぎ:納税者が簡易裁判所で勝訴 ほか]

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