The European Court of Justice (ECJ) had ruled that an exit charge on trusts 'leaving' the UK for another EU country was incompatible with the EU freedom of establishment.
Despite the UK's current relationship with the EU, the First-tier Tribunal had to find a 'conforming interpretation' to ensure UK law conformed with EU law.
The Trusts and Estates Law and Tax Journal has published an article by Christopher Salomons outlining the significance of the latest interaction between EU and UK law.
EU law: A question of interpretation is available to read on the Journal website via subscription.
Christopher is a senior associate in the private client team advising clients domiciled in both the UK and overseas on a range of tax, trusts, estate planning and succession related matters.