The High Court decision in Vodafone 2 has prompted a mixed reaction among taxpayers and advisers with some relatively cautious as to what may happen next (for example Roopa Aitken in The Tax Journal Issue 945 4 August 2008) and others rather more exuberant (for example Steve Edge The Tax Journal Issue 943 21 July 2008). For my part I do not fully share Steve Edge's optimism that the High Court decision is 'very unlikely' to be overturned on appeal.
I would agree with Evans-Lombe J that the CFC rules and the motive test in particular cannot reasonably be construed so as to conform with the acceptable boundaries of a CFC regime as laid down by the ECJ in Cadbury Schweppes. Not least ...
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The High Court decision in Vodafone 2 has prompted a mixed reaction among taxpayers and advisers with some relatively cautious as to what may happen next (for example Roopa Aitken in The Tax Journal Issue 945 4 August 2008) and others rather more exuberant (for example Steve Edge The Tax Journal Issue 943 21 July 2008). For my part I do not fully share Steve Edge's optimism that the High Court decision is 'very unlikely' to be overturned on appeal.
I would agree with Evans-Lombe J that the CFC rules and the motive test in particular cannot reasonably be construed so as to conform with the acceptable boundaries of a CFC regime as laid down by the ECJ in Cadbury Schweppes. Not least ...
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If you do not subscribe but are a registered user, please enter your details in the following boxes:
