Coal Staff Superannuation Scheme Trustees v Revenue and Customs Commissioners

European Union – Freedom of movement. The Revenue and Customs Commissioners' (HMRC) refusal of the Coal Staff Superannuation Scheme Trustees Ltd's claims for payment of 'relevant withholding tax' in respect of manufactured overseas dividends received by the Trustee pursuant to certain stock lending transactions in the relevant years amounted to a restriction on movement of capital, prohibited by art 63 of the Treaty on the Functioning of the European Union, and was not justified by an overriding reason in the public interest. Consequently, the Upper Tribunal (Tax and Chancery Chamber) allowed the Trustee's appeal against the decision of the First-tier Tribunal (Tax Chamber) and proposed a construction of the relevant UK legislation that would remedy the detriment to the Trustee.

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