Lawyers for a London Stock Exchange Group unit are set to appear in court today as the company continues its legal battle against a whopping £167m tax bill.
HMRC slapped LSEG Data & Analytics with the bill when it was known as Refintiv and part Thomson Reuters.
London Stock Exchange Group bought the unit for $27bn (£19.3bn) in 2019 and eventually changed its name to LSEG Data & Analytics in August last year.
HMRC’s decision to issue the hefty tax bill against the firm stems from inquiries about its historic international tax arrangements.
The LSEG unit filed a legal challenge against the tax authority’s tax bill, and a hearing took place in July last year.
The company argued that the so-called diverted profits tax notices that HMRC issued, which led to the tax bill, were unlawful, and said that the method that the authority used to calculate its tax bill was inconsistent with a method it had previously agreed to use.
But the Tribunal ultimately dismissed the LSEG unit’s judicial review claim last October.
The company, however, has now taken its claim to the Court of Appeal, where a two-day hearing is due to commence today.
LSEG and HMRC were approach for a comment.