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Pendragon receives £7m in overpaid tax

Pendragon has received nearly £7m in overpaid tax owed to CD Bramall.

The dealer group will receive the £6.7m payment from Customs and Excise as a result of its acquisition of CD Bramall in 2004 for £230m.

Pendragon will retain half the amount while the remainder will be paid to former CD Bramall shareholders. Pendragon said further repayments may also be due from Customs and Excise.

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