Filippo Noseda, Partner in Private Tax and Wealth Structuring team, has written an article for Tax Notes International, which discusses two recent court decisions in Jenny's crowdfunded data protection case relating to FATCA, the US Foreign Account Tax Compliance Act which requires banks globally to transfer data of US citizens holding a bank account abroad, to the US Government.
Jenny's case was about the interaction between FATCA and individuals' rights to data protection and data safety.
In two decisions, the English Courts backed HMRC's strategy of preventing the case from trial unless Jenny disclosed the identity of her main funder – not including the 851 small funders who pledged an average of £124 towards Jenny's claim through CrowdJustice.
"Thanks to the work carried out by Jenny, her legal team, and other campaigners, as well as independent U.S. authorities, there is now a mountain of evidence to show that FATCA does not work; the IRS does not really care; and data collected through FATCA is at risk of being lost to hacking.
"Clearly, HMRC was concerned about the merits of the case, which is why it opted for a procedural barrage using the state’s endless finances to thwart Jenny’s courageous claim to see justice done."
Listen to Filippo's interview here: "In the Pages: The FATCA Wars: Jenny's Day in Court", Tax Notes International, July 19, 2024.
Read the full article here.