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M&s Wins Landmark Tax Rebate Case

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M&S could win a £30m tax rebate from the British Treasury

Retailer Marks & Spencer has won its £30m ($53m) European Union court case for the right to deduct foreign losses from its British tax bill.

The European Court of Justice said M&S can offset its UK tax bill against losses made in other EU countries when it closed its operations there.

http://news.bbc.co.uk/1/hi/business/4523860.stm

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Guest wrongmove

But Gordon Brown is such a good chancellor... How could he lose... PMSL...

one word for you Mr Brown....

UNLUCKY!

Unfortunately it will not be Gordon that takes the hit. He will just pass it onto us. :(

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Unfortunately it will not be Gordon that takes the hit. He will just pass it onto us. :(

Would it be ethically ok for me to carry on shoplifting at m+s to make sure i get all my money back?

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It's £30,000,000 for M&S but this case sets a precedent. When all the other cases follow the total cost to the treasury will be billions.

But not quite as bad a precedent as was first feared.

Losses can only be offset if the overseas business is shut so that there is no prospect of relieving them abroad. It had been thought that all overseas losses would be relievable in this way.

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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