Re FII Group Litigation

Income tax – Assessment. The Chancery Division allowed an application for summary judgment by seven companies in the course of the FII group litigation concerning restitution of advance corporation tax (ACT) paid on foreign income dividends (FIDs). The companies had succeeded in claims regarding FIDs which the respondent Revenue and Customs Commissioners sought to appeal. The court held that the Revenue's arguments did not have a real prospect of success.

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