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Tax Law
CPD Points:
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Regulated by the Solicitors Regulation Authority:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Regulated by the Bar Standards Board:
Listen and pass the quiz: Gain 1 accredited CPD point (60 minutes)

Regulated by ILEX:
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  • FREE
30 minutes of audio
(+ optional 5 minute online quiz)
Plays on Computer:
Yes Downloadable as MP3:    Yes
Course Aims:

This podcast aims to refresh practitioners on the principles of UK group relief, following its development through the totemic Marks & Spencer litigation in European and domestic courts and the changes introduced by the Finance Act 2006. Looking forward, the podcast also touches on how Group Relief might develop in the future including complex proposals to apply exemptions to profits of foreign branches of UK companies.

After completing the course you will:
  • Understand the framework for the taxation of corporations in the UK;
  • Understand how profits for groups of companies are taxed;
  • Know when a company is in a group;
  • Be aware of the issues in Marks & Spencer litigation;
  • Be aware of the implications of the ECJ’s judgment in that litigation and the subsequent history of the case;
  • Be aware of the challenges posed by the regime set out in the Finance Act 2006 to qualify for group relief;
  • Be aware of the proposals and possible issues to exempt profits and losses of foreign branches of UK companies from certain corporation taxes in the UK.
General Interest Difficulty: 2 of 5
Case Update
Legal Principles
Sources and References:
  • Opinion of the Advocate-General in Marks and Spencer plc v David Halsey (HM Inspector of Taxes), 7 April 2005, (C-446/03);
  • Revenue & Customs v Marks & Spencer Plc [2010] UKUT 213 (TCC);
  • Finance Act 2006 Part 3, Ch. 2. (Group Relief).

This podcast reviews the tax relief available to companies that have trading subsidiaries in other countries. It also addresses proposals to give tax exemptions to foreign branches of UK companies which will be of particular interest to companies in the financial and energy sectors.

Podcast added: 03/12/10

NB: In December 2010 the UK Government published it's proposals on reforms to the taxation of foreign branches of UK companies. Draft legislation is expected on 9 December 2010 with final proposals to be included in the 2011 Finance Act

CURRENCY WARNING This podcast is under review following the decision in HM Revenue and Customs v Marks and Spencer Plc [2011] EWCA Civ 1156

Podcast last reviewed: 2011-05-31

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