Section 205 — Finance Act 2014: “Judicial ruling” and circumstances in which a ruling is “relevant”

“Judicial ruling” and circumstances in which a ruling is “relevant” 205 1 This section applies for the purposes of this Chapter. 2 “ Judicial ruling ” means a ruling of a court or tribunal on one or more issues.

3 A judicial ruling is “relevant” to the chosen arrangements if—

a it relates to tax arrangements, b the principles laid down, or reasoning given, in the ruling would, if applied to the chosen arrangements, deny the asserted advantage or a part of that advantage, and c it is a final ruling.

4 A judicial ruling is a “final ruling” if it is—

a a ruling of the Supreme Court, or b a ruling of any other court or tribunal in circumstances where—

i no appeal may be made against the ruling, ii if an appeal may be made against the ruling with permission, the time limit for applications has expired and either no application has been made or permission has been refused, iii if such permission to appeal against the ruling has been granted or is not required, no appeal has been made within the time limit for appeals, or iv if an appeal was made, it was abandoned or otherwise disposed of before it was determined by the court or tribunal to which it was addressed.

5 Where a judicial ruling is final by virtue of sub-paragraph (ii), (iii) or (iv) of subsection (4)(b), the ruling is treated as made at the time when the sub-paragraph in question is first satisfied.