The judge who handed victory to HM Revenue and Customs in the landmark section 660A appeal said he believed that fears surrounding the impact of the decision are "greatly exaggerated".
Geoff and Diana Jones lost their appeal, heard last month, when Justice Park decided that the settlements legislation applied to dividends received by Mrs Jones so that they were taxable as her husband's income.
The judge pointed out that if a husband-and-wife team set up a joint company and ran it together, it did not follow from the judgment that the husband was necessarily going to be taxed on the wife's dividends.
TaxZone understands that the judge decided the case, Jones v Garnett, firmly in the Revenue's favour.
He appears to have concluded that the question whether there was an "arrangement" constituting...