||All England Reporter
|| All ER (D) 294 (Jul)
|| UKHL 34
||House of Lords
Lord Hope of Craighead, Lord Nicholls of Birkenhead, Lord Scott of Foscote, Lord Walker of Gestingthorpe and Lord Mance
||Laurence Rabinowitz QC, Francis Fitzpatrick and Steven Elliott (instructed by Slaughter & May) for the taxpayer.
||Ian Glick QC, Rupert Baldry and Gerry Facenna (instructed by Solicitor for Revenue and Customs) for the commissioners.
||18 July 2007
Income taxation - Corporation tax - Advance corporation tax - United Kingdom resident subsidiary companies and non-resident parent companies - Breach of European Community law - Remedy - Whether cause of action available at common law for money paid under a mistake of law - Interest - Calculation of interest - Whether court had jurisdiction at common law to award compound interest where claimant sought restitutionary remedy for the time value of money paid under mistake - Appropriate rate of interest.
Income taxation Corporation tax. The court had a common law jurisdiction to award interest, simple and compound, as damages on claims for non-payment of debts as well as on other claims for breach of contract and in tort. A cause of action was available at common law for money paid under a mistake of law. The court had jurisdiction at common law to award compound interest where the claimant sought a restitutionary remedy for the time value of money paid under a mistake. The remedy of restitution differed from that of damages. It was the gain that needed to be measured, not the loss to the claimant. If a conventional rate of interest was to be adopted, it should be one which was appropriate to the circumstances of the enriched party.
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