LONDON: The UK tax authority is seeking to appeal to the country’s highest court after failing in its latest attempt to block a £1bn payout to Littlewoods, the home shopping company.
The Court of Appeal last week sided with Littlewoods — owned by the billionaire Barclay brothers — in its long-running legal battle with HM Revenue & Customs over a demand for compound interest on tax refunds dating back 30 years.
HMRC said it believed the Court of Appeal decision was “at odds with how parliament intended value added tax [VAT] law to work, and will now seek leave to appeal to the Supreme Court”.
Littlewoods said the court ruling was the “logical consequence” of a historic overpayment after the incorrect collection of VAT for 30 years.
