The decision in Trustees of BT Pension Scheme v HMRC (No. 2) (Upper Tribunal – 5 March) is the latest instalment in a long-running saga which follows the reference to the CJEU in FII Group Litigation Test Claimants v CIR. The trustees of a pension scheme took proceedings against the Revenue claiming that the provisions of UK law which denied them tax credits in respect of foreign income dividends contravened EC law. The First-tier Tribunal (FTT) reviewed the evidence in detail and dismissed the majority of the claims on the grounds that they had been made outside the statutory time limit but allowed the claims relating to foreign income dividends for 1997/98. Both sides appealed to the Upper Tribunal (UT) which upheld the FTT decision.
Why it matters: There is a great deal...
