Thursday, Oct 01, 2009
Cash from empty coffers
Telegraph: HSBC wins case on Treasury's £20bn illegal tax haul
Treasury lost a case on stamp duty reserve tax. "Tax experts believe the ruling will set off a wave of similar claims from firms that have been involved in cross-border takeover activity in the past 23 years. " However, 20 billion assumes everyone kept the documents but estimates are 5 billion will be recoverable by companies. I wonder how many other possible rulings against the government there will be, there are a few in the offing, bank shareholders and the like.
Posted by stillthinking @ 11:38 PM (261 views) Add Comment
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