Tax ruling may cost Revenue billions

Link: Treasury faces £1bn tax loss

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.

Related reading