Credit Suisse has lost an attempt to claw back £239m in tax it paid on bankers’ bonuses under a one-off levy that was introduced following the 2008 global financial crisis.

The Swiss bank had brought a case against HMRC claiming that the way in which it was charged under the 2009/2010 bank payroll tax was unfair. But High Court judge Mrs Justice Falk today ruled in favour of the UK tax authority.