Court of Appeal says UK thin cap rules are compatible with EU law
February 28, 2011
Sophie Ashley - TPW, Salman Shaheen TPW
The Court of Appeal has ruled that UK thin capitalisation legislation is compatible with EU law, overturning a previous decision, on appeal from HM Revenue & Customs (HMRC).
The ruling is a blow to Volvo, Lafarge, Siemens, IBM and Standard Bank, who made up the claimants in the Test Claimants in the Thin Cap Group Litigation v Commissioners for HMRC [2011] case.
Sorry. You must be a subscriber to view this article. Alternatively, why not take a free trial? To subscribe and access this article immediately simply click here or call +44(0)207 779 8380.