UK Supreme Court dashes taxpayers’ hopes on thin cap but there is an alternative
November 07, 2011
Jack Grocott TPW
The second refusal of the UK Supreme Court to refer the Thin Cap GLO to the ECJ has been described as “inconsistent” and “wrong” and will end up costing taxpayers a lot of money if they decide to persist with the litigation.
The Thin Cap GLO case challenges the UK's thin capitalisation provisions as they existed before the amendments to the transfer pricing legislation that took effect from April 2004.
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