CJEU decision on FII group litigation

The Court of Justice of the European Union (CJEU) has given its decision on the third reference for the Test Claimants in the Franked Investment Income Group Litigation v Commissioners of Inland Revenue, Commissioners for Her Majesty's Revenue and Customs [2013] EUECJ C-362/12.

This case follows on from the Supreme Court decision of 23 May 2012 which was divided on its view of whether Finance Act 2004, s. 320, which retroactively blocked tax claims based on 'a mistake of law', was contrary to EU law principles.