Taxman wins verdict
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.AN APPLICATION for judicial review made by Matrix Securities after the Inland Revenue withdrew an assurance that the tax status of its enterprise zone would not be challenged has been turned down by the High Court.
Mr Justice Laws ruled after two days of hearings that the Revenue had not abused its powers in revoking the assurance of a local inspector that the scheme would qualify for tax relief.
Matrix Securities is trying to raise pounds 95m for the South Quay Enterprise Zone trust.
About pounds 10m is to buy three office blocks in the London Docklands and the rest is to provide rental guarantees and a rates reserve.
So far more than pounds 40m has been raised, but cheques received to date are not being cashed.
Matrix Securities was given leave to appeal. It expects the case to be heard on Monday, with a decision on Tuesday.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments