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The case is probably the end of the legal road for Geoff and Diana Jones who have their case heard in the Special Commissioners (HMRC won); the High Court (HMRC won) and the Court of Appeal (Arctic won).
The case hinges on the HMRC's interpretation of a specific piece of legislation, Section 660, which, HMRC claims means that dividend paid to one party (in this case Mrs Jones) should really be treated as belonging to and taxed at the higher rate of her partner.
The outcome of the House of Lords case could have significant financial implications for thousands of similarly structured companies.
The case has been supported and funded by the Professional Contractors Group (PCG) and other interested parties and individuals.
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The Editor
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