The newspaper alleges that Tesco established partnerships and holding companies in Switzerland and Luxembourg as part of two tax avoidance schemes which saved the retailer up to GBP30mn per year in income tax on its profits.

The ruling was made by Mr Justice Eady in a preliminary hearing in a libel case brought by Tesco against the newspaper in relation to earlier false allegations of aggressive tax avoidance tactics employed by the company.

Earlier in the year, the Guardian wrongly reported that Tesco had agreed to major property sale and lease back deals in order to avoid up to GBP1bn in corporation tax.

Tesco has accepted that, like most other large companies operating in the UK, it employs tax minimisation strategies. However, the company has said that it rejects the Guardian's claims of "massive" tax avoidance and that it was "plundering the Treasury."

The paper has since apologised to Tesco after accepting elements of this earlier article were untrue, and has offered to pay the company damages, although this offer has yet to be accepted.

Justice Eady ruled that Tesco has until 15th September to decide whether to accept the Guardian's offer, and also rejected a separate claim filed by Tesco against the newspaper and its editor for "malicious falsehood." In this latter ruling, Tesco was refused permission to appeal, and had costs awarded against it.