EU flag and national flags are hoisted in front of the European Parliament in Strasbourg
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Peers' concerns over EU transaction tax

The UK could end up having to collect a controversial EU tax on share transactions even though it isn't one of the countries which supports the move, according to members of the House of Lords.

They've now written to the government expressing their concerns and setting out why they think there might be legal grounds to challenge the move.

Lord Harrison, Lyndon Harrison, chair of the Lords EU sub-committee on economic and financial affairs, told Today business presenter Tanya Beckett why this is happening.

First broadcast on BBC Radio 4's Today programme on Thursday 28 March 2013.