Multimillionaire Ex-Pat Wins 84 Million Pound U.K. Tax Dispute

The multimillionaire founder of U.K. discount fashion store, Matalan, has won an appeal against the U.K. tax office over an 84 million pound ($110 million) tax bill linked to the sale of his shares.

The April 12 ruling at the First-Tier Tribunal tax court, released April 17, means that John Hargreaves doesn’t have to repay the tax demanded. But the tax office has also been granted permission to appeal the ruling.

The tax bill is for capital gains made by Hargreaves upon the sale in 2000 of 29.3 percent of his holdings. He received 231 million pounds ...