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Tribunal backs HMRC as Ladbrokes fails in tax avoidance case

3rd December 2015 8:57 am GMT

Ladbrokes has lost a £54m tax avoidance case after a First-tier Tribunal ruled that the UK bookmaker’s attempt to avoid corporation tax was against the law.

The decision means that Ladbrokes cannot reclaim £54m in tax from UK tax authority Her Majesty's Revenue & Customs (HMRC).

The tax avoidance scheme was promoted by accountancy firm Deloitte in 2008 and exploited a loophole in part of the tax code regarding the taxation of loans. The loophole was closed [...]

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