Recruitment giant Michael Page is to recoup £26m in overpaid VAT.

A prior claim for overpaid VAT between 1980 and 2004 had been thrown out by HM Revenue & Customs in 2003, but Michael Page submitted an amended £80m claim for the same period in March.

A statement from Michael Page said that the payment “partially settled” this claim but would also be pursuing the Revenue for interest on the overpaid amount.

The statement adds: “There remains considerable uncertainty over the length of time to finalise these claims and the final amount, if any, of overpaid VAT and statutory interest that will ultimately be received.”