Treasury in secret tax talks with business
The Treasury is said to be in secret talks with multinationals to discuss major potential changes to the UK tax system.
Link: M&S takes £100m Revenue fight to Europe
Inland Revenue called the meetings ahead of a claim in the European Courts of Justice by retailer Marks & Spencer to offset losses in Europe against its tax expenses, reports The Times.
Revenue is concerned that if the court rules in favour of M&S, other multinationals could follow suit and claims may run into millions of pounds.
Treasury staff have met with companies to negotiate solutions should M&S be successful in its claim.
