Global menu

Our global pages

Close

Eversheds comment: Further UK challenge to FTT possible

  • United Kingdom

    30-04-2014

    Commenting on the rejection of the UK's challenge to the proposed Financial Transaction Tax (FTT), Ben Jones, tax expert at global law firm Eversheds, says:

    “The Court’s rejection of the UK’s challenge was anticipated but, from the details currently available, should not prevent a further challenge being raised by the UK if necessary. Reading between the lines of the Court’s initial statements, the UK’s challenge has failed at this stage since the substantive features of the FTT have not yet been finally determined, meaning the Court cannot rule on whether EU law would be breached by its introduction. The UK should have another opportunity to challenge if its problematic features, such as its extra-territorial effect, remain in the final form of the tax."

    Ben Jones, Partner

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

    < Go back

    Print Friendly and PDF

    © Eversheds Sutherland 2021. All rights reserved. Eversheds Sutherland is a global provider of legal and other services operating through various separate and distinct legal entities.

    Eversheds Sutherland is the name and brand under which the members of Eversheds Sutherland Limited (Eversheds Sutherland (International) LLP and Eversheds Sutherland (US) LLP) and their respective controlled, managed and affiliated firms and the members of Eversheds Sutherland (Europe) Limited (each an "Eversheds Sutherland Entity" and together the "Eversheds Sutherland Entities") provide legal or other services to clients around the world. Eversheds Sutherland Entities are constituted and regulated in accordance with relevant local regulatory and legal requirements and operate in accordance with their locally registered names. The use of the name Eversheds Sutherland, is for description purposes only and does not imply that the Eversheds Sutherland Entities are in a partnership or are part of a global LLP. The responsibility for the provision of services to the client is defined in the terms of engagement between the instructed firm and the client.