My client runs 4 franchise outlets for a high street name multi national fast food company. The company has recently settled a long standing dispute going back to 2008 as regards the VAT liability of some of its products. My client therefore has to pay approx £20k per outlet. My questions are can they claim corporate tax relief on the additional liability (which effectively reduces their sales) and if so in which period do they claim i.e. do they claim in the period they pay the VAT or must we unsettle all years for the VAT due each year going back to 2008?
Thank you in advance
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