Case Law

This page shows a summary of relevant case law. To view the section of legislation to which the case law applies, click the link below:

Case Law

The ECJ held that the occasion that foreign losses could be set against UK profits were when EU subsidiary had exhausted the possibilities available in the home territory for offsetting the losses in the current accounting period and also the previous accounting periods and there is no possibility for the EU subsidiary’s losses to be taken into account in its country of residence for future periods either by the subsidiary itself or a third party. Marks & Spencer plc v Halsey Case C-446/03