UK Uncut wins permission to challenge HMRC/Goldman Sachs deal

UK UNCUT LEGAL has been granted permission to challenge HM Revenue & Customs in the High Court over its ‘sweetheart’ tax deal with investment bank Goldman Sachs.

HMRC entered into a deal in 2010 with the banking giant over the repayment of taxes worth up to £20m.

The activists accuse the taxman of giving the US multinational favourable treatment in the settlement of a tax dispute, letting it off some £10m in interest payments.

On social networking site Twitter, the Revenue said: “HMRC will strongly contest UK Uncut’s High Court application.

“Large business tax settlements are a vital part of securing revenues for UK. Without them UK’s public finances would be seriously damaged.”

In an official statement, the taxman added: “We welcome the judge’s decision to refuse permission for UK Uncut’s application to quash the settlement. We also welcome the opportunity to demonstrate that we acted legally.”

Related reading

HMRC banknotes
Philip Hammond
HMRC banknotes