‘New Judgment: Test Claimants in the Franked Investment Income Group Litigation and Others v Commissioners of Inland Revenue (1) [2020] UKSC 47’

“The Supreme Court has unanimously allowed this long-awaited appeal arising in the course of long-running proceedings known as the Franked Investment Income (‘FII’) Group Litigation. The FII Group Litigation brings together many claims concerning the way in which advance corporation tax and corporation tax used to be charged on dividends received by UK-resident companies from non-resident subsidiaries. The respondents to this appeal are claimants within the FII Group Litigation whose cases have been selected to proceed as test claims on certain common issues (‘the Test Claimants’). These issues are being determined in phases, with the courts’ decisions affecting not just the other claims within the FII Group Litigation, but potentially also a number of other sets of proceedings brought by corporate taxpayers against the appellant, the Commissioners for Her Majesty’s Revenue and Customs (‘HMRC’) …” (more)

[UK Supreme Court Blog, 20 November]

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