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M&S claims further Supreme Court cross-border tax victory

Accountancy Age

MARKS & SPENCER has claimed a further Surpreme Court victory in its long-running dispute with HM Revenue & Customs over tax relief for losses made by its now-defunct German and Belgian subsidiaries. The crux of the matter was whether M&S could offset losses caused by the closures of its Belgian and German operations against its UK profits by way of group relief. In 2005, the European Court of Justice ruled such…

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