Deutsche Bank is to appeal a Court of Appeal ruling that denied it the chance
to reclaim hundreds of millions of pounds-worth of tax.
The Times reports today that Deutsche is to take the case to the Lords. It
had been assumed that the action was potentially worth hundreds of millions to
the UK revenue, though other tax experts suggest the number is ‘unquantifiable’.
The case concerns the payment of advanced corporation tax (ACT), phased out
in 1999, through which Deutsche paid tax on dividends received. It is claiming
the tax back, after ECJ rulings suggested the charges may be illegal.
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states