Brexit Britain wins key victory against EU trying to claw back millions of pounds

The EU mislaid successful its ineligible conflict with the UK (Image: Getty)

Britain has travel retired connected apical successful its archetypal ineligible conflict with the EU arsenic Brussels tries to claw millions of pounds from the UK.

The bloc is trying to retrieve the wealth from the London Stock Exchange aft accusing the UK's taxation strategy of allowing amerciable exemptions.

The EU contention enforcer said the UK's Controlled Foreign Company (CFC) rules acceptable up to effort and promote overseas companies to put successful Britain gave immoderate companies an amerciable advantage.

But the Court of Justice of the European Union (CJEU) has fallen connected Britain's broadside successful the dispute.

The tribunal said: "The Commission and the General Court erred successful instrumentality successful uncovering that the rules applicable to CFCs constituted the due notation model for examining whether a selected vantage had been conferred.

The Court of Justice of the EU sided with the UK (Image: Getty)

"The Court recalls that the Commission ... is successful rule required to judge the Member State’s mentation of the applicable provisions of its nationalist law, unless it is capable to found that different mentation prevails successful the case-law oregon the administrative signifier of that Member State."

The ruling cannot beryllium appealed by Brussels.

The EU did not sanction immoderate of the companies they deemed to person gained an amerciable vantage from the taxation scheme.

BBA Aviation, Chemring, Daily Mail & General, Diageo, Euromoney, Inchcape, Meggitt, Smith & Nephew and WPP person mentioned the EU probe successful their accounts.