Another £1.2 Billion Tax Bill - 28th Nov 2008 1:03am
Originally Posted by BBC News
British American Tobacco (BAT) has said it may get £1.2bn of tax back after a High Court judge ruled it had overpaid.
Europe's biggest cigarette maker said a preliminary judgement found it should not have paid UK tax on dividends received from European subsidiaries.
The judge said that HM Revenue and Customs should refund the tax paid on the dividends plus other bills.
The Treasury said it would consider the case before deciding whether or not to lodge an appeal.
Europe's biggest cigarette maker said a preliminary judgement found it should not have paid UK tax on dividends received from European subsidiaries.
The judge said that HM Revenue and Customs should refund the tax paid on the dividends plus other bills.
The Treasury said it would consider the case before deciding whether or not to lodge an appeal.
Hahaha where the hell the government going to find the money for this; oh let me guess, it will just be borrowed added to 2010's tax bill!!
BBC News Report