LONDON (dpa-AFX) - British American Tobacco Plc (BTI, BATS.L) said Supreme Court handed down its judgment in the case of The Test Claimants in the FII Group Litigation versus The Commissioners for HM Revenue and Customs.
The judgment concerns a number of issues but the main issue of relevance to British American Tobacco concerned the lawfulness of retrospective legislation introduced by s107 of Finance Act 2007, or FA '07.
Supreme Court has unanimously held that s107 of FA '07 was in breach of EU law and has restored the claimants' claims. British American Tobacco group is the principal test claimant in the group litigation.
The effect of the judgment is to enable British American Tobacco and other claimants who issued their claims at about the same time to pursue claims for the recovery of unlawfully imposed UK corporation tax back, in most cases, to 1973.
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