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Ocean Finance—the jury is still out

Ocean Finance—the jury is still out
Published on: 20 July 2013
Published by: LexisPSL
  • Ocean Finance—the jury is still out
  • Original news
  • What is the issue?
  • What did the CJEU decide?
  • Do the court’s comments on how the transaction should be ‘re-established’ constitute a departure?
  • Does it enhance our understanding of the Halifax principle?
  • What should lawyers advising in this area take note of?
  • Is there a trend emerging in this area?

Article summary

Tax analysis: Did loan broker Ocean Finance set up and use ‘wholly artificial’ arrangements with the sole aim of obtaining a tax advantage in relation to its advertising costs? Sadiya Choudhury, barrister at Pump Court Tax Chambers discusses the CJEU’s decision in Newey t/a as Ocean Finance v Revenue and Customs Commissioners. or take a trial to read the full analysis.

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