Six Continents Ltd and another company v Commissioners of Inland Revenue and another

Income tax – Dividends. Among other things, the Chancery Division held, upon the agreed basis that most of the dividends paid to the UK-resident second claimant company (Six Continents) by its wholly-owned Dutch-resident subsidiary (SCIH) had been unlawfully charged UK corporation tax, had entitled Six Continents to a credit at the Dutch standard rate of corporation tax for so much of the dividends as had been derived from the 'revaluation adjustments' and which had arisen from the liquidation of a subsidiary of SCIH. In those circumstances, Six Continents was entitled to unlawful tax of £7,104,450 paid to the defendants, the Inland Revenue Commissioners and the Revenue and Customs Commissioners.

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