Top British companies have overpaid billions in tax - EU Court

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AtW replied

14 November 2012, 15:20
Originally posted by Mich the Tester View Post

I don't have a problem; the companies have a problem, took it to the ECJ and now the government has a problem.

Companies don't have a problem - they used the system to resolve it.

Originally posted by Mich the Tester View Post

In fact, if those companies have to be reimbursed then everyone has a problem, although I suspect it won't come to that.

Why would everyone have a problem? If the tax was unduly taken then it should be returned back with interest. It's possible court will limit it to X years, they should have brought lawsuit earlier and have only themselves to blame.
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Mich the Tester replied

14 November 2012, 15:18
Originally posted by AtW View Post

Treasury just does what Parliament intended - if you have problem with taxes bring it up with politicians.

I don't have a problem; the companies have a problem, took it to the ECJ and now the government has a problem. In fact, if those companies have to be reimbursed then everyone has a problem, although I suspect it won't come to that.
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AtW replied

14 November 2012, 15:14
Originally posted by Mich the Tester View Post

'Current tax cheats' like the treasury?

Treasury just does what Parliament intended - if you have problem with taxes bring it up with politicians.
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Mich the Tester replied

14 November 2012, 15:12
Originally posted by AtW View Post

Gordon Brown apparently cancelled this tax error in his first budget (that would be 1997 I think?).

It's in hands of court now to determine the position regarding previous years and if Treasury loses it won't be forming lobby group to reverse it - they'd just blame Tories under which it happened and try to get some money from current tax cheats.

'Current tax cheats' like the treasury?
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AtW replied

14 November 2012, 15:11
Originally posted by RasputinDude View Post

Why does some part of me expect the treasury to start shouting about how nasty and bad retrospection is?

Gordon Brown apparently cancelled this tax error in his first budget (that would be 1997 I think?).

It's in hands of court now to determine the position regarding previous years and if Treasury loses it won't be forming lobby group to reverse it - they'd just blame Tories under which it happened and try to get some money from current tax cheats.
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speling bee replied

14 November 2012, 15:08
Originally posted by RasputinDude View Post

Why does some part of me expect the treasury to start shouting about how nasty and bad retrospection is?

Why bother? Parliament can just pass the 'Retrospective we're not paying it back and here's an extra 10% windfall Act'. And as our elected representatives are duty bound to act in our best interests, we can eagerly await it.
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Mich the Tester replied

14 November 2012, 14:27
Originally posted by RasputinDude View Post

Why does some part of me expect the treasury to start shouting about how nasty and bad retrospection is?
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RasputinDude replied

14 November 2012, 14:18
Why does some part of me expect the treasury to start shouting about how nasty and bad retrospection is?
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AtW replied

14 November 2012, 14:03
Originally posted by VectraMan View Post

I guess the company could be in for a windfall if this turns out to be correct.

"It is not yet clear how far back companies might be able to claim retroactive repayment of taxes, with claims dating back to 1973. This question is scheduled to be examined in a separate ECJ court case in 2013."

Sensible decision from EU.
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VectraMan replied

14 November 2012, 14:00
Specifically this applies to British companies that have foreign subsidiaries. I work (in Britain) for a US company that's wholly owned by a British group, so I guess the company could be in for a windfall if this turns out to be correct.
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RasputinDude started a topic Top British companies have overpaid billions in tax - EU Court

14 November 2012, 13:30
Top British companies have overpaid billions in tax - EU Court

The European Court of Justice (ECJ) found that by taxing dividends earned from companies based in Britain differently from income gained abroad, Britain's treasury overcharged companies for decades.

Top British companies have overpaid billions in tax - EU Court | Reuters

Have we done this one yet?
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