Business property relief not available

Legislation/Regulatory – IHTA84 s. 105(4)(b)

Close companies

– see Close investment-holding companies (CICs)

Controlled foreign companies

Exempt activities test

Commentary – Tax Reporter ¶770-455
HMRC Guidance – INTM255020

Generally

Commentary – Tax Reporter ¶770-425

Motive test

Commentary – Tax Reporter ¶770-575
HMRC Guidance – INTM255020

Not qualifying holding companies

Commentary – Tax Reporter ¶770-435

Qualifying holding companies

Commentary – Tax Reporter ¶770-445

Deduction of input tax

Costs of share transactions

Case Law – Skatteverket v AB SKF (Case C-29/08). [2011] BVC 359 ; Staatssecretaris van Financiën v X BV (Case C-651/11). [2013] BVC 209

Entitlement

Case Law – Portugal Telecom SGPS SA v Fazenda Pública, Ministério Público intervening (Case C-496/11). [2012] BVC 629

Expenditure arising from acquisition of shareholding in subsidiary

Case Law – Cibo Participations SA v Directeur régional des impôts du Nord-Pas-de-Calais (Case C-16/00). [2002] BVC 605

Professional fees

Case Law – BLP Group plc v. Customs and Excise Commissioners. [1993] BVC 279 ; BLP Group plc v Customs and Excise Commissioners (Case C-4/94). [1995] BVC 159 ; Cloud Electronics Holdings Ltd [2012] TC 02368

Share dividends and loan interest collected from subsidiaries

Case Law – Floridienne SA & Berginvest SA v Belgian State (Case C-142/99). [2001] BVC 76

Demergers

– see Demergers

Input tax deduction

Commentary – VAT Reporter ¶19-105

Meaning

Legislation/Regulatory – ICTA88 Sch. 25, para. 12(1) ; IHTA84 s. 103(2)
HMRC Guidance – IHTM28369
Case Law – Imperial Chemical Industries plc v Colmer (HM Inspector of Taxes). [1996] BTC 154 ; Imperial Chemical Industries plc v. Colmer (HM Inspector of Taxes). [1993] BTC 398

Purchase of own shares by company

– see Purchase by company of own shares

Reconstruction, stamp duty relief

Case Law – Baytrust Holdings Ltd v Inland Revenue Commissioners; Thomas Firth and John Brown (Investments) Ltd v Inland Revenue Commissioners. [2008] BTC 7,044

Taxable person

Case Law – Polysar Investments Netherlands BV v. Inspecteur der Invoerrechten en Accijnzen, Arnhem (Case C-60/90). [1993] BVC 88