Dialog Semiconductor Limited v The Commissioners for HMRC
The Termination Fee did not fall within s 22(1)(c) TCGA 1992 because there was no forfeiture, surrender, or refraining from exercising rights by Dialog; the fee was not paid in return for such actions but pursuant to a contractual term, and Dialog's rights under the Merger Agreement were not lost by its own action but by Atmel's unilateral termination.
Source excerpt
- Corporation tax
- Chargeable gains
- Termination fees
- Merger agreements
- Delaware law
- Capital gains tax assets