BAT has won its challenge to HMRC over its policy of taxing dividend payments from foreign subsidiaries. The policy is illegal under European law, because the UK does not tax similar payments from domestic companies. HMRC may well appeal against this verdict, as this ruling might cost it £5BN.
Tax does have to be taxing.
HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"
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