Barclay twins resume Littlewoods VAT battle

Lawyers for Sir David and Sir Frederick Barclay have returned to the High Court to pursue the final chapter of their six-year battle to extract a £1bn VAT settlement from HMRC.

The Barclay family’s catalogue business Littlewoods has already received more than £470m after HMRC accepted in 2004 that there had been incorrect VAT treatment of commissions paid to the company’s regional agents during the previous 31 years.

This led to an initial settlement which included interest of £268.2m.

Via Barclay twins resume Littlewoods VAT battle | AccountingWEB.

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