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SIMON WHITEHEAD discusses the Court of Appeal's judgment in Marks and Spencer v Halsey
KEY POINTS:
- Review of the background facts in Marks and Spencer plc v Halsey.
- ECJ ruling that group relief could be restricted between Member States if a legitimate objective is pursued.
- When are losses beyond future use?
- Court of Appeal agreed with the High Court that if a domestic group has two years to make a group relief claim so should a cross border group.
On 20 February the Court of Appeal delivered its opinion on how to interpret and apply the European Court's judgment in the Marks and Spencer group relief case (Marks and Spencer plc v Halsey [2007] EWCA Civ 117). It is beyond dispute that the European Court envisaged in its judgment (C-466/03) (see Update Taxation 5 January 2006 page 326) that there were circumstances where the UK's group relief provisions were required to permit the surrender to offset UK profits of the non-resident losses of a group member...
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