TaxAdministrationRevenue fights it out in biggest ever tax case

Revenue fights it out in biggest ever tax case

The largest tax case in UK history got underway yesterday as solicitors battled it out with the Inland Revenue over a case which could ultimately cost the chancellor billions.

Link: Revenue changes tax tactics

The case relates to a European Court of Justice decision in favour of German chemical company Hoechst Aktiengesellschaft. The ECJ ruled that in that case a UK corporation should not have to pay advance corporation tax (ACT) on dividends to its EU resident parent companies.

The decision opened a floodgate of claims, and over 190 company groups are seeking recompense from the UK government. The first hearings concern EU parent companies with a treaty tax credit, with Pirelli as the test case.

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