Posted by Christie Malry on November 14, 2012 at 7:43 am
The British government might have to repay billions of pounds in multinational companies' corporation tax after the EU's highest court found in favour of British American Tobacco in a judgment delivered on Tuesday.
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.
This will make a real mess of the tax gap. But what's the betting that the leading UK tax commentator doesn't shift his estimate by a single penny?