A high court judge has ruled in favour of Littlewoods in a long-running tax dispute with HMRC dating back more than 30 years.
The home-shopping business, owned by Sir David and Sir Frederick Barclay, won its £1.2bn claim over receiving compound interest on improperly collected VAT.
Following the ruling [Littlewoods Retail v HMRC], Littlewoods said: “The judgment provides a clear and robust resolution to complex issues raised by English and European law.”
It also means HMRC could be...
About Robert Lovell
Business and finance journalist