In 2006, the House of Lords decided, in a landmark judgment, that Deutsche Morgan Grenfell Group plc ("DMG") was entitled to reclaim from Her Majesty’s Revenue & Customs ("HMRC") payments of advance corporation tax ("ACT") which DMG had paid under a mistake of law. In addition, the House of Lords held that the limitation period for DMG's claim began to run from the point when DMG discovered its mistake, which was the date of the European Court of Justice’s ("ECJ") ruling in the Hoechst / Metallgesellschaft cases that certain aspects of the ACT regime were unlawful.
This article was originally published in PLC magazine in December 2006 and is reproduced with the permission of Practical Law Company Ltd.
Sarah Lee (partner)
Publications and seminars landing page