In UK v Council of the European Union (C-209/13), the Court of Justice of the European Union (CJEU) decided that the UK’s legal claim in relation to the EU financial transaction tax (FTT) was admissible, but premature. The CJEU’s rejection of the case is by no means a loss for the UK. The UK’s aim was to protect its ability to bring a claim at a later stage, and the decision leaves the UK free to bring a later claim, based on the same arguments, if it thinks that an adopted FTT Directive remains in breach of EU law.
