UK Uncut is granted permission to take HM Revenue & Customs to the High Court over its tax settlement with Goldman Sachs
UK UNCUT LEGAL has been granted permission to challenge HM Revenue & Customs in the High Court over its ‘sweetheart’ tax deal with investment bank Goldman Sachs.
HMRC entered into a deal in 2010 with the banking giant over the repayment of taxes worth up to £20m.
The activists accuse the taxman of giving the US multinational favourable treatment in the settlement of a tax dispute, letting it off some £10m in interest payments.
On social networking site Twitter, the Revenue said: “HMRC will strongly contest UK Uncut’s High Court application.
“Large business tax settlements are a vital part of securing revenues for UK. Without them UK’s public finances would be seriously damaged.”
In an official statement, the taxman added: “We welcome the judge’s decision to refuse permission for UK Uncut’s application to quash the settlement. We also welcome the opportunity to demonstrate that we acted legally.”