Thomson Reuters falls at hurdle in fight against HMRC tax bill

cityam11-15 19:55

A sign on the outside of the London Stock Exchange Group Plc’s offices in the City of London. Photographer: Chris Ratcliffe/Bloomberg via Getty Images After trying to fight a whopping £167m tax bill, ...

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Photographer: Chris Ratcliffe/Bloomberg via Getty Images After trying to fight a whopping £167m tax bill, ...</p>\n\n<a href=\"https://www.cityam.com/thomson-reuters-falls-at-hurdle-in-fight-against-hmrc-tax-bill/\">Source Link</a>\n\n</div>\n","source":"cityam_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Thomson Reuters falls at  hurdle in fight against HMRC tax bill</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThomson Reuters falls at  hurdle in fight against HMRC tax bill\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-15 19:55 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cityam.com/thomson-reuters-falls-at-hurdle-in-fight-against-hmrc-tax-bill/><strong>cityam</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>A sign on the outside of the London Stock Exchange Group Plc’s offices in the City of London. Photographer: Chris Ratcliffe/Bloomberg via Getty Images After trying to fight a whopping £167m tax bill, ...</p>\n\n<a href=\"https://www.cityam.com/thomson-reuters-falls-at-hurdle-in-fight-against-hmrc-tax-bill/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1989763005.USD","symbol_name":"东方汇理教育基金A2 Acc","start_time":0,"source_url":"https://www.cityam.com/thomson-reuters-falls-at-hurdle-in-fight-against-hmrc-tax-bill/","article_id":"2483066343","we_media_id":null,"thumbnails":["https://www.cityam.com/wp-content/uploads/2024/10/1611-LSE-Group-London-Stock-exchange.jpeg?w=286&h=161&crop=1"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483066343","pubTimestamp":1731671754,"sourceInfo":{"source_id":"cityam_highlight","name":"cityam"},"weMediaInfo":null,"summary":"The only step left for the company will be to try and bring its case to the Supreme Court, but it is yet unclear if it’ll consider that final step in its fight against this tax bill.A HMRC spokesperson said: “We welcome the decision, which rejects the companies’ claims that HMRC’s charge of more than 167m of DPT was unlawful and an abuse of our powers.”“The court confirmed we acted lawfully in issuing DPT charging notices, correctly using anti-avoidance legislation that is designed to counter the use of aggressive tax planning by multinational corporate groups to divert profits from the UK,” HMRC added.An LSEG spokesperson said: “The claims relate to the period before LSEG’s acquisition of Refinitiv and are being conducted by Thomson Reuters who have fully indemnified LSEG against any financial liabilities”.While a spokesperson for Thomson Reuters stated: “We have no comment.”","collect":0,"end_time":0,"defaultTopTitle":"cityam.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1989763005.USD":"东方汇理教育基金A2 Acc","LU1989773731.SGD":"CPR Invest - Education A2 Acc SGD-H","BK4579":"人工智能","TRI":"汤森路透","BK4123":"调查和咨询服务"},"translate_title":"汤森路透在反对英国税务海关总署税收法案的斗争中遇到障碍","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TRI":1},"content_text":"A sign on the outside of the London Stock Exchange Group Plc’s offices in the City of London. Photographer: Chris Ratcliffe/Bloomberg via Getty Images After trying to fight a whopping £167m tax bill, a court sided with the tax agency against a former Thomson Reuters business.An entity of the London Stock Exchange Group (LSEG) was the subject of a hefty tax bill after a blockbuster deal when LSEG bought a data company from Swiss-based Thomson Reuters for $27bn (£19.3bn) in 2019.Previously known as Refintiv, the data unit’s name was changed to LSEG Data & Analytics. HMRC slapped a £167m tax bill after it decided to issue diverted profits tax (DPT) notices.\n\nThe DPT regime was introduced in 2015 to address the situation where multi-national groups deploy arrangements to divert profits away from the UK to lower tax jurisdictions.Thomson Reuters filed a judicial review claim against the tax authority’s tax bill, arguing that the DPT notices were unlawful in public law terms.However, last October, the Upper Tax Tribunal ultimately dismissed LSEG case. The legal challenge was taken to the Court of Appeal last month.However, Lord Justice Underhill, Lady Justice Whipple and Sir Launcelot Henderson dismissed the appeal, ruling there is no objection in public law to the relevant assessments to DPT raised by HMRC.\n\nThe only step left for the company will be to try and bring its case to the Supreme Court, but it is yet unclear if it’ll consider that final step in its fight against this tax bill.A HMRC spokesperson said: “We welcome the decision, which rejects the companies’ claims that HMRC’s charge of more than £167m of DPT was unlawful and an abuse of our powers.”“The court confirmed we acted lawfully in issuing DPT charging notices, correctly using anti-avoidance legislation that is designed to counter the use of aggressive tax planning by multinational corporate groups to divert profits from the UK,” HMRC added.An LSEG spokesperson said: “The claims relate to the period before LSEG’s acquisition of Refinitiv and are being conducted by Thomson Reuters who have fully indemnified LSEG against any financial liabilities”.\n\nWhile a spokesperson for Thomson Reuters stated: “We have no comment.”","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483066343"}