The case, first revealed in Accountancy Age in April last year, has frightened the Inland Revenue to such an extent that it tried to scupper the case earlier this year.
It argued, successfully, that the claims should go through special commissioners, and tax returns, and that the cases were not the jurisdiction of the High Court. That decision was overturned by the Court of Appeal today.
Marks & Spencer will appear at the European Court of Justice early next year, in a hope to reclaim £30m. Experts say it is extremely likely to succeed.
If M&S is successful, all 59 members of Class 1 of the loss relief GLO will be set to receive cheques from the Inland Revenue.
MTD represents 'the single most significant change to the UK’s system of taxation in recent times', says Knill James partner Nick Rawson. So, how prepared are SMEs for digital tax reporting?
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Unincorporated businesses under the VAT threshold given an extra year to prepare before MTD becomes mandatory