The taxpayer owned shares in his own company, and was to sell them in a take-over. The sale was delayed. The Act required the base value to be set at the beginning of the tax year, and the chargeable gain was the increase in price when the sale eventually went through. As quoted stock, they … Continue reading Crabtree v Hinchcliffe (Inspector of Taxes): ChD 5 Dec 1969

The taxpayer’s shareholding was to be sold in a take-over. A sale was substantially agreed, but not completed for several months. The base value of the shares fell to be set by the quoted price at the start of the tax year. The take-over had not been announced, and the taxpayer argued that the quoted … Continue reading Hinchcliffe (Inspector of Taxes) v Crabtree: CA 1971