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  2. Danish to English
  3. Law: Taxation & Customs

skattemæssig succession

English translation: (profit) hold-over relief or group (tax loss relief) carry-over

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Danish term or phrase:skattemæssig succession
English translation:(profit) hold-over relief or group (tax loss relief) carry-over
Entered by: Adrian MM. (X)

18:34 May 2, 2016
Danish to English translations [PRO]
Bus/Financial - Law: Taxation & Customs
Danish term or phrase: skattemæssig succession
I think this means something like "deferral of capital gains tax", but I'm not sure:

For det første , anses de aktier, som aktionærerne i det indskydende selskab måtte modtage i det modtagende selskab, for anskaffet på samme tidspunkt, til samme anskaffelsessum og med samme intention, som tilfældet var med de oprindelige aktier i det indskydende selskab, altså fuld skattemæssig succession, jf. FUL § 11. Successionen er ubetinget og tvunget, fordi den ikke kan nægtes eller fravælges. For grænseoverskridende fusioner gælder der dog tre undtagelser til denne hovedregel, som blev indsat ved lov nr. 254 af 30.03.2011 (lovforslag L 84)...
Diarmuid Kennan
Ireland
Local time: 03:45
hold-over relief
Explanation:
= deferment of IHT/inheritance tax or CGT/capital gains tax vs. roll-over relief = plough-back & reinvestment of gains. In the UK (and Eire?), both reliefs are, or used to be, available at the same time.

At this point, I am supposed to write that I am not an expert, but am not going to.


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Note added at 2 hrs (2016-05-02 20:36:24 GMT)
--------------------------------------------------

I forgot to mention... this text concerns “Exit taxation on companies relocating by means of a reverse vertical merger”

then read: carry(-)over relief https://books.google.at/books?isbn=3642002609

I'm not beat(en) yet!

--------------------------------------------------
Note added at 4 days (2016-05-07 14:36:07 GMT) Post-grading
--------------------------------------------------

universal vs. particular succession is a mechanism for wholesale or individual transfer of company assets and only indrectly has a tax impact, whereas the question clearly refers to 'skattemæssig...'

PS during my City of London acquisitions & mergers days, a new VAT reg. no. and accounting reference period were sought for the target-co. If a susbidiary had been merged into a parent group, UK hold-over relief for taxable gains or group (tax-losses) relief carried over into the target might also have been available.
Selected response from:

Adrian MM. (X)
Local time: 04:45
Grading comment
Thanks Adrian - I don't actually know what the answer to this question is. I think Chris may be closer to the truth with "universal succession" - but thanks for the suggestions
4 KudoZ points were awarded for this answer



Summary of answers provided
4hold-over relief
Adrian MM. (X)


Discussion entries: 2





  

Answers


1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5
hold-over relief


Explanation:
= deferment of IHT/inheritance tax or CGT/capital gains tax vs. roll-over relief = plough-back & reinvestment of gains. In the UK (and Eire?), both reliefs are, or used to be, available at the same time.

At this point, I am supposed to write that I am not an expert, but am not going to.


--------------------------------------------------
Note added at 2 hrs (2016-05-02 20:36:24 GMT)
--------------------------------------------------

I forgot to mention... this text concerns “Exit taxation on companies relocating by means of a reverse vertical merger”

then read: carry(-)over relief https://books.google.at/books?isbn=3642002609

I'm not beat(en) yet!

--------------------------------------------------
Note added at 4 days (2016-05-07 14:36:07 GMT) Post-grading
--------------------------------------------------

universal vs. particular succession is a mechanism for wholesale or individual transfer of company assets and only indrectly has a tax impact, whereas the question clearly refers to 'skattemæssig...'

PS during my City of London acquisitions & mergers days, a new VAT reg. no. and accounting reference period were sought for the target-co. If a susbidiary had been merged into a parent group, UK hold-over relief for taxable gains or group (tax-losses) relief carried over into the target might also have been available.

Example sentence(s):
  • Holdover relief on gifts means you don't pay Capital Gains Tax (CGT) when you give away business assets and some shares

    Reference: http://www.plesner.com/insights/artikler/2014/12/generations...
    Reference: http://www.noonecasey.ie/guide-to-irish-tax/capital-gains-ta...
Adrian MM. (X)
Local time: 04:45
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 38
Grading comment
Thanks Adrian - I don't actually know what the answer to this question is. I think Chris may be closer to the truth with "universal succession" - but thanks for the suggestions

Peer comments on this answer (and responses from the answerer)
neutral  Christopher Schröder: I think it's liability as much as reliefs that are being transferred // OK!
11 hrs
  -> exactly: carry-over profit + esp. loss reliefs. BTW, 'universal vs. particular' succession in corporate terms IMO is translatese for wholesale vs. individual asset transfer. 'Perpetual succession' as per textbook def. denotes corporate vs. human survival.
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