[2016] EWCA Civ 397

Court of Appeal (Civil Division)

Lady Justice Black, Lord Justice Briggs, and Lord Justice David Richards

Judgment delivered 27 April 2016

Corporation tax – Taxation of profits made on sale or transfer of derivatives under Finance Act 2002 to transferee in the same group – Transferor within the regime of FA 2002 but transferee not yet within that regime – Application of FA 2002, Sch. 26, para. 28 – Whether transfer disregarded for tax purposes – No – Whether adjustments to return precluded by issue of closure notice in error – No.

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