Arctic Systems win High Court appeal

The Court of Appeal found in favour of Geoff and Diana Jones of Arctic Systems in their appeal against the High Court's ruling in favour of HM Revenue & Customs' interpretation of the s660a settlements legislation.

Accouncing its decision on Thursday morning, the court ruled that the dividends paid to Mrs Jones did not arise under the settlements rules, as HMRC had claimed.

The Joneses were swamped by reporters after the landmark decision, which throws the current HMRC policy out of the window.

Arctic Systems - The story so far