Wednesday, November 29, 2006
Phoenix Four in line for massive tax windfall?
Former MG Rover bosses are reportedly set for a massive tax windfall that could net the Phoenix Four around £16m.
The money could be won back as overpaid VAT following a change in the rules covering cars purchased by car financing and leasing companies at the end of their agreements.
In a further blow to the former MG Rover workers, the Department of Trade & Industry has admitted that its inquiry into the MG Rover collapse is likely to drag on into next year. Reports indicate that it has cost taxpayers almost £7m.
DATED: 29.11.06
FEED: MT
The money could be won back as overpaid VAT following a change in the rules covering cars purchased by car financing and leasing companies at the end of their agreements.
In a further blow to the former MG Rover workers, the Department of Trade & Industry has admitted that its inquiry into the MG Rover collapse is likely to drag on into next year. Reports indicate that it has cost taxpayers almost £7m.
DATED: 29.11.06
FEED: MT
