HMRC Wins Overseas Dividend Test Case At Top Court

By Lucia Osborne-Crowley (April 27, 2022, 10:22 AM BST) -- The U.K. Supreme Court ruled Wednesday that the country's tax authority doesn't have to return money a pension fund paid on payments received under stock lending agreements, tossing a test case involving an estimated £600 million in liabilities over manufactured overseas dividends.

Britain's highest court has overturned an appeals court ruling, which held that HMRC violated European rules governing free movement of capital. (Peter Dazeley/Getty Images) Britain's highest court unanimously overturned an appeals court ruling, which held that HM Revenue & Customs violated European Union rules governing the free movement of capital when it deducted £8.8 million ($11.1 million) in tax...

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