4th Mar 2014 16:41
LONDON (Alliance News) - Investment company Tricor PLC Tuesday said its appeal against the UK tax authority's decision to disallow around GBP1.8 million in input tax claims has been dismissed by the First-Tier Tribunal.
Tircor said it has the right to appeal the decision to the Upper Tribunal and will work with legal advisors to assess its next move. It said initial observations from the advisors suggest there may be grounds for an appeal.
No decision has been made at this stage as to how costs associated with the tribunal process will be awarded, the firm added.
The stock was trading at 4.50 pence Tuesday afternoon, down 0.75 pence or 14.3%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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