Treasury in secret tax talks with business

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.

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