Court Rules in Favor of ScottishPower in £28 Million Tax Dispute

Energy giant ScottishPower has been granted an appeal to allow it to deduct £28m in fines by Ofgem for corporation tax purposes. Investigations by regulator Ofgem found companies within the Scottish Power group had breached regulations between 2013 and 2016, in relation to mis-selling, cost-reflectivity, energy saving and complaints handling. Scottish Power entered into a number of settlement agreements with Ofgem under, which it agreed to pay penalties that totalled £28m. The group sought to deduct the £28m for corporation tax…