Slaughter and May has advised on a landmark tax ruling that will see hundreds of businesses receive millions in compensation from the UK Revenue & Customs (HMRC). The firm secured victory yesterday (18 July) after a 12-year battle when the Lords ruled that companies wrongly charged advance corporation tax (ACT) should be able to recover interest on the sum on a compound interest rate rather than a lower flat rate.
July 19, 2007 at 09:38 AM
1 minute read
The original version of this story was published on Legalweek
Slaughter and May has advised on a landmark tax ruling that will see hundreds of businesses receive millions in compensation from the UK Revenue & Customs (HMRC).
The firm secured victory yesterday (18 July) after a 12-year battle when the Lords ruled that companies wrongly charged advance corporation tax (ACT) should be able to recover interest on the sum on a compound interest rate rather than a lower flat rate.
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