“… the Court of Justice of the European Union (“the CJEU”) on 1 October 2009 in Case C-569/07HSBC Holdings plc and Vidacos Nominees Ltd v HMRC [2009] ECR I-9047, [2010] STC 58 (“HSBC Holdings”). In short, the CJEU held in that case, on a reference for a preliminary ruling by one of the Special Commissioners of Income Tax in the UK, t…”
“…es into a clearance service or to a depositary receipts issuer, was unlawful under EU law, HSBC Holdings plc v. Revenue & Customs Commissioners (Case C-569/07) [2010] STC 58 (‘HSBC Holdings No.1’) and HSBC Holdings plc v. Revenue & Customs Commissioners (2012) 81 TC 663 (‘HSBC Holdings No.2’). Following this a large number of claim…”