The UK Supreme Court has ruled in favour of Jersey against HMRC in a “landmark constitutional decision,” allowing the jurisdiction the right to free movement of capital.
The judgment means that the UK government cannot introduce restrictions affecting movements of capital between the UK and Jersey.
HMRC had appealed the English Court of Appeal decision, which also ruled in favour of Jersey, resulting in the case being heard by the Supreme Court
This free movement is a European Union right, which benefits third countries as well as member states.
Jersey’s attorney general argued that the island'...