Following the European Court of Justice's judgment in ICI v Colmer, the UK Inland Revenue has said that claims for group and consortium relief will now be accepted between UK-resident companies where a group or consortium is established by reference to companies resident in the European Union (EU) or the European Economic Area (EEA).
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The OECD had previously missed a June 30 deadline to agree an MLC on amount A; in other news, UK corporation tax bills surged to a record high last year