A summary of the High Court decision handed down this week in Jones v Garnett has been published by the Incorporated Council of Law Reporting.
The summary, written by barrister Harriet Dutton, is reproduced below.
The ICAEW's Tax Faculty has published its initial reaction to the decision.
It would appear that the judgment will show a "resounding win for HMRC - with some rather unhelpful comments about husband and wife tax planning," the faculty said.
A lot of the faculty's members will "read the report and still be unsure what side of the line their clients fall" because the case seems "unlikely to provide real clarity on whether you [are] a 'good tax planner' or an unacceptable tax avoider in relation to the advice given to your clients".
The faculty's note to members added: "The case is likel...