Search Results for: Finance Act 2003

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Mashoof v Revenue and Customs (Stamp Duty Land Tax – Paragraph 25 of Schedule 10 To Finance Act 2003 – Whether Revenue Determination Made, Issued and Served): FTTTx 25 Mar 2020

STAMP DUTY LAND TAX – paragraph 25 of schedule 10 to Finance Act 2003 – whether Revenue determination made, issued and served – paragraph 35(1)(e) and paragraph 36(5A) of schedule 10 to Finance Act 2003 – whether the Tribunal has jurisdiction to consider an appeal against a Revenue determination based on procedural defects – whether … Continue reading Mashoof v Revenue and Customs (Stamp Duty Land Tax – Paragraph 25 of Schedule 10 To Finance Act 2003 – Whether Revenue Determination Made, Issued and Served): FTTTx 25 Mar 2020

Castle Phillips Finance v Piddington: CA 1995

The wife charged the matrimonial home to Lloyds to secure the husband’s indebtedness. The husband subsequently agreed with Barclays for the indebtedness to be refinanced. The husband and an accomplice forged her signature on a transfer of the matrimonial home into joint names and on a remortgage. When Barclays pressed for repayment, the husband applied … Continue reading Castle Phillips Finance v Piddington: CA 1995

Silven Properties Ltd and Another v Royal Bank of Scotland Plc and Others: CA 21 Oct 2003

The claimants complained that the receivers appointed by the bank had failed to get the best price for properties charged to the bank and sold, in that they had failed to obtain planning permissions which would have increased the values of the properties. Held: The court was being asked ‘whether the express appointment in the … Continue reading Silven Properties Ltd and Another v Royal Bank of Scotland Plc and Others: CA 21 Oct 2003

J v V (Disclosure: Offshore Corporations): FD 2003

A prenuptial agreement had been signed on the eve of marriage without advice or disclosure and without allowance for arrival of children. Coleridge J also considered the use of documents recovered by a party by unauthorised or improper means. He said: ‘The use of Hildebrand documents in English ancillary relief proceedings is perfectly permissible subject … Continue reading J v V (Disclosure: Offshore Corporations): FD 2003

Shogun Finance Limited v Hudson: HL 19 Nov 2003

Thief acquired no title and could not sell A purchaser used a stolen driving licence to obtain credit for and purchase a car. He then purported to sell it to the respondent, and then disappeared. The finance company sought return of the car. Held: (Lords Nicholls and Millett dissenting) The rogue had not acquired a … Continue reading Shogun Finance Limited v Hudson: HL 19 Nov 2003

Paragon Finance Plc (Formerly Known As National Home Loans Corporation Plc v D B Thakerar and Co (a Firm); Ranga and Co (a Firm) and Sterling Financial Services Limited: CA 21 Jul 1998

Where an action had been begun on basis of allegations of negligence and breach of trust, new allegations of fraud where quite separate new causes of claim, and went beyond amendments and were disallowed outside the relevant limitation period. Sections 23 and 36 and the absence of express statutory mention in the 1980 Act of … Continue reading Paragon Finance Plc (Formerly Known As National Home Loans Corporation Plc v D B Thakerar and Co (a Firm); Ranga and Co (a Firm) and Sterling Financial Services Limited: CA 21 Jul 1998

Barrett (HM Inspector of Taxes) v Royal London Mutual Insurance Society Ltd: CA 12 Jun 2003

The question arising was whether paragraph 55(2) of Schedule 8 to the Finance Act 1995, a reinsurance treaty entered into on 25 November 1994 by the taxpayer reinsurer with a non-resident cedant is, by virtue of the fact that policies of life assurance ceded by that treaty were issued before 1 November 1994, within the … Continue reading Barrett (HM Inspector of Taxes) v Royal London Mutual Insurance Society Ltd: CA 12 Jun 2003

Southern and District Finance Plc v Turner: CA 7 Nov 2003

The defendant sought to assert that the agreement under which possession of her house was sought was an extortionate credit bargain. She had to obtain leave to appeal out of time. Held: The rules required an application to be supported by evidence. In this case the leave had been granted without formal consideration of the … Continue reading Southern and District Finance Plc v Turner: CA 7 Nov 2003

Foster v Foster: CA 16 Apr 2003

The marriage had been short, there were no children, both parties were working, and each could support themselves providing themselves with accomodation. The wife had successfully appealed a finding of the district judge for an equal distribution. The husband sought to restore it. Held: The district judge’s findings were not so wrong (if at all) … Continue reading Foster v Foster: CA 16 Apr 2003

GE Capital Corporate Finance Group v Bankers Trust Co and Others: CA 3 Aug 1994

Irrelevant parts of documents required to be disclosed may be blanked out on discovery by the party giving discovery. Hoffmann LJ: ‘It has long been the practice that a party is entitled to seal up or cover up parts of a document which he claims to be irrelevant’, and after citing Jones v Andrews, ‘In … Continue reading GE Capital Corporate Finance Group v Bankers Trust Co and Others: CA 3 Aug 1994

Equitable Life Assurance Society v Ernst and Young: CA 25 Jul 2003

The claimant sought damages from its accountants, saying that had they been advised of the difficulties in their financial situation, they would have been able to avoid the loss of some 2.5 billion pounds, or to sell their assets at a time when their losses could be minimalised. They appealed a judgment limiting the claim … Continue reading Equitable Life Assurance Society v Ernst and Young: CA 25 Jul 2003

Locabail International Finance Ltd v Agroexport: CA 1986

There is a general principle of the law as to injunctions that the court should not put itself in the position of making orders which it cannot enforce against the person or assets of a defendant. Judges: Mustill LJ Citations: [1986] 1 WLR 657 Jurisdiction: England and Wales Cited by: Cited – Motorola Credit Corporation … Continue reading Locabail International Finance Ltd v Agroexport: CA 1986

M and M Builders (Norfolk) Ltd v Revenue and Customs (Stamp Duty Land Tax – Whether Two Transactions Between Connected Parties Constitute An Exchange): FTTTx 19 Aug 2019

STAMP DUTY LAND TAX – whether two transactions between connected parties constitute an exchange – whether market value provisions of s53 Finance Act 2003 apply in precedence to the valuation of annuity provisions of s52 Finance Act 2003 – whether transactions caught by anti-avoidance provisions of s75A Finance Act 2003 – appeal dismissed Citations: [2019] … Continue reading M and M Builders (Norfolk) Ltd v Revenue and Customs (Stamp Duty Land Tax – Whether Two Transactions Between Connected Parties Constitute An Exchange): FTTTx 19 Aug 2019

Consultus Care and Nursing Ltd v Revenue and Customs (Stamp Duty Land Tax – Application of Higher Rate To Certain High Value Residential Transactions): FTTTx 4 Jul 2019

STAMP DUTY LAND TAX – application of higher rate to certain high value residential transactions pursuant to Schedule 4A Finance Act 2003 – whether acquisition qualifies for relief for property acquired exclusively for purpose of exploitation as source of rents in course of qualifying property rental business – no – appeal dismissed Citations: [2019] UKFTT … Continue reading Consultus Care and Nursing Ltd v Revenue and Customs (Stamp Duty Land Tax – Application of Higher Rate To Certain High Value Residential Transactions): FTTTx 4 Jul 2019

Fraser and Another v Canterbury Diocesan Board of Finance and Another: Chd 14 May 2003

The claimants sought to assert that land acquired under the 1841 Act reverted to them on its ceasing to be used for the purposes of a school. Lewison J summarised the evidence: ‘An analysis of the school registers for 1931 to 1947 shows that the children came from a variety of housing stock. Some came … Continue reading Fraser and Another v Canterbury Diocesan Board of Finance and Another: Chd 14 May 2003

The Secretary of State for Trade and Industry v Goldberg, Mcavoy: ChD 26 Nov 2003

The Secretary of State sought a disqualification order. The director argued that one shoul not be made in the absence of some breach of legal duty, some dishonesty should be shown. Held: The answer was a mixture of fact and law. A breach of duty alone was neither necessary nor sufficient. Unfitness by reason of … Continue reading The Secretary of State for Trade and Industry v Goldberg, Mcavoy: ChD 26 Nov 2003

Fraser and Another v Canterbury Diocesan Board of Finance and others: HL 27 Oct 2005

Land had been acquired by a deed under the 1841 Act, but had in 1995 ceased to be used as a school ‘for the education of children and adults of the labouring manufacturing and other poorer classes . . And for no other purpose ‘. Under the Act, the land would revert to the claimants … Continue reading Fraser and Another v Canterbury Diocesan Board of Finance and others: HL 27 Oct 2005

Aniagwu v London Borough of Hackney: EAT 18 Jul 2003

EAT Unfair Dismissal – Reason for dismissal including substantial other reason.Appeal by A from a decision of an Employment Tribunal that he had been unfairly dismissed by the London Borough of Hackney from his position as a Senior Finance Officer (grade PO1) because the Council failed to utilise fair procedures when selecting him for redundancy, … Continue reading Aniagwu v London Borough of Hackney: EAT 18 Jul 2003

Motorola Credit Corporation v Uzan and others (No 2): CA 12 Jun 2003

World-wide freezing orders had been made under the 1982 Act. The defendants were members of a Turkish family with substantial business interests in the telecommunications industry. In breach of orders made in the US some defendants had sought to hide their assets. They had failed to respond as required to orders to disclose their assest, … Continue reading Motorola Credit Corporation v Uzan and others (No 2): CA 12 Jun 2003

Paddick v Associated Newspapers Ltd: QBD 10 Dec 2003

The defendant sought disclosure of full statements used by the claimant . Extracts only had been supplied, and he said they contained private and confidential material. Held: The application failed. The claimant had stated that the balance of the material did not relate to the case, and in the absence of evidence to the contrary … Continue reading Paddick v Associated Newspapers Ltd: QBD 10 Dec 2003

Barclays Mercantile Business Finance Ltd v Mawson, HM Inspector of Taxes: CA 13 Dec 2002

The taxpayer entered into a sale and leaseback arrangement in respect of a gas pipeline, and sought to set off the costs as a capital allowance. Held: The company’s appeal succeeded: ‘There is nothing in the statute to suggest that ‘up-front finance’ for the lessee is an essential feature of the right to allowances. The … Continue reading Barclays Mercantile Business Finance Ltd v Mawson, HM Inspector of Taxes: CA 13 Dec 2002

Cukurova Finance International Ltd and Another, Regina (on The Application of) v HM Treasury and Another: Admn 29 Sep 2008

The claimant contended that section 2(2)(b) of the the 1972 Act did not confer power on Her Majesty’s Treasury to make the 2003 Regulations and, accordingly, they should be quashed or, alternatively, construed so as to be intra vires. Judges: Moses LJ Citations: [2008] EWHC 2567 (Admin), [2009] Eu LR 317 Links: Bailii Statutes: Financial … Continue reading Cukurova Finance International Ltd and Another, Regina (on The Application of) v HM Treasury and Another: Admn 29 Sep 2008

Mercantile Business Finance Ltd v Sibec Developments Ltd: QBD 1992

The court considered what was required to establish the tort of conversion. Held: Demand is not an essential precondition of the tort: what is required is an overt act of withholding possession from the true owner. Such an act may consist of a refusal to deliver up the chattel on demand, but it may be … Continue reading Mercantile Business Finance Ltd v Sibec Developments Ltd: QBD 1992

Madden v UDC Finance Limited and others: PC 30 Oct 1997

(New Zealand) The company issued a debenture to secure the funds for the purchase of machinery, but the debenture was not at first dated. It was submitted that the addition of the dates changed the nature of the loan and was ineffective being insufficiently evidenced in writing. Held: The insertion of the dates was a … Continue reading Madden v UDC Finance Limited and others: PC 30 Oct 1997

St Edmundsbury and Ipswich Diocesan Board of Finance v Clark (No.2): CA 1973

When looking at a contract ‘one must construe the document according to the natural meaning of the words contained in the document as a whole, read in the light of surrounding circumstances.’ The contra preferetem rule can only come into play ‘if the court finds itself unable on the material before it to reach a … Continue reading St Edmundsbury and Ipswich Diocesan Board of Finance v Clark (No.2): CA 1973

Pyrke (Valuation Officer): LT 15 Sep 2003

LT RATING – exemption – agricultural building – Local Government Finance Act 1988 Sch 5 para 7 – seed warehouse occupied by members co-operative – members themselves co-operatives – agricultural land occupied not by member co-operatives but by their individual members – substantial proportion of seed coming from and going to persons other than member … Continue reading Pyrke (Valuation Officer): LT 15 Sep 2003

Tully and Another v Jorgensen (Valuation Officer): LT 4 Aug 2003

LT RATING – rateable property – composite premises – non-domestic premises – employed person using bedroom at home for full-time office work – Local Government Finance Act 1988 s 66(1)(a) – held house used wholly for purposes of living accommodation, therefore not rateable Citations: [2003] EWLands RA – 22 – 2001 Links: Bailii Statutes: Local … Continue reading Tully and Another v Jorgensen (Valuation Officer): LT 4 Aug 2003

OT Computers v First National Tricity Finance: ChD 2003

Judges: Pumfrey J Citations: [2003] EWHC 1010 (Ch), 2003 2369 A3 Jurisdiction: England and Wales Cited by: Appeal From – First National Tricity Finance Ltd v OT Computers Ltd; In re OT Computers Ltd (in administration) CA 25-May-2004 The company had gone into liquidation. They had sold consumer policies as extended warranties on behalf of … Continue reading OT Computers v First National Tricity Finance: ChD 2003

Ganci v Italie: ECHR 30 Oct 2003

The applicant was serving two life sentences for Mafia related activities. He challenged nine decrees issued by the Minister of Justice under which he was held under a special prison regime for a period of four years. His case related to delays by the courts in dealing with his challenge. The Court said: ‘the applicant … Continue reading Ganci v Italie: ECHR 30 Oct 2003

In re London and Globe Finance Corporation Ltd: ChD 1903

A company which had gone from voluntary winding up, first to winding up under supervision and then to compulsory winding up, with the official receiver as liquidator. The company’s former managing director was suspected of fraud, but the law officers declined to prosecute. Some of the shareholders wished to prosecute him, mainly at the expense … Continue reading In re London and Globe Finance Corporation Ltd: ChD 1903

International Finance Corporation v Utexafrica SPRL: ComC 9 May 2001

The defendant applied to have set aside judgement entered against him in default of acknowledgment of service. Held: The authorities make it plain that, in order to satisfy the test for resisting a summary claim for for wrongful repudiation and/or breach of contract, a defendant has to demonstrate a defence which is not ‘false, fanciful … Continue reading International Finance Corporation v Utexafrica SPRL: ComC 9 May 2001

First National Tricity Finance Ltd v OT Computers Ltd; In re OT Computers Ltd (in administration): CA 25 May 2004

The company had gone into liquidation. They had sold consumer policies as extended warranties on behalf of the claimant. The company had insured its own joint liability under the contracts, and the claimant sought information from the company’s administrators to assist it identifying who might else be liable. Held: The claimant could rely upon the … Continue reading First National Tricity Finance Ltd v OT Computers Ltd; In re OT Computers Ltd (in administration): CA 25 May 2004

Lessex Ltd v HM Inspector of Taxes: SCIT 6 Nov 2003

SCIT Corporation tax – late filing of company tax returns – penalty provisions – transitional provisions – whether fixed penalty under Schedule 18, paragraph 17 to the Finance Act 1998 for a third late filing of a company tax return should be the higher penalty of andpound;1000 where one or more of the previous late … Continue reading Lessex Ltd v HM Inspector of Taxes: SCIT 6 Nov 2003

Fraser and Fraser v Canterbury Diocesan Board of Finance Integrated Services Programme: CA 28 Jan 2004

The claimants sought a reversion of land conveyed under the 1841 Act to trustees. The defendants (‘DBF’) as succesors to the trustees argued that by extending the range of pupils in the school, the trustees acquired a title independent of and adverse to the claimants. Held: The DBF succeeded. The judge had found that the … Continue reading Fraser and Fraser v Canterbury Diocesan Board of Finance Integrated Services Programme: CA 28 Jan 2004

Digital Equipment Co Ltd and Others v Bower and Others: ChD 4 Dec 2003

The liquidators had lost their legal action, and had been ordered to pay the present claimants their costs. They sought payment out of an insolvency services account in competition with the solicitors for the liquidators. Held: An award of costs was not a payment of ‘expenses incurred in the winding up’ and therefore the court … Continue reading Digital Equipment Co Ltd and Others v Bower and Others: ChD 4 Dec 2003

M25 Group Limited v Tudor and others: CA 4 Dec 2003

Tenants served notices under the Act requiring information about the disposal of the freehold. The landlords objected that the notices were invalid in failing to give the tenants’ addresses as required under the Act. Held: The addresses were known or readily available to the landlord, and the notices were not invalid. The court could consider … Continue reading M25 Group Limited v Tudor and others: CA 4 Dec 2003

Venables and others v Hornby (Her Majesty’s Inspector of Taxes): HL 4 Dec 2003

The company director taxpayer had retired from his company but stayed on as an unpaid non-executive director. The trust deed for the company’s pension scheme provided for payments to be made to an employee. The director sought relief from payment of income tax under Schedule E. Held: (Majority) The appeal by the taxpayer was allowed. … Continue reading Venables and others v Hornby (Her Majesty’s Inspector of Taxes): HL 4 Dec 2003

Cine Bes Filmcilik Ve Yapimcilik and Another v United International Pictures and Others: CA 21 Nov 2003

The parties entered into agreements licensing the exclusive distribution of encrypted television channels within Turkey. A clause provided a calculation of damages for a breach amounting to the balance of licence fees due, and other penalties, including the return of proprietary rights. On a breach the licensors sought to enforce the contract. On an application … Continue reading Cine Bes Filmcilik Ve Yapimcilik and Another v United International Pictures and Others: CA 21 Nov 2003

Ninni-Orasche v Bundesminister fur Wissenschaft, Verkehr und Kunst: ECJ 6 Nov 2003

ECJ Freedom of movement for workers – Article 48 of the EC Treaty (now, after amendment, Article 39 EC) – Concept of worker – Contract of employment of a short term fixed in advance – Retention of the status of worker after end of employment contract – Conditions for the grant of social advantages within … Continue reading Ninni-Orasche v Bundesminister fur Wissenschaft, Verkehr und Kunst: ECJ 6 Nov 2003

Polanski v Conde Nast Publications Limited: CA 11 Nov 2003

The claimant sought damages for defamation. He feared arrest and extradition to the US if he came to England, and was granted an order allowing him to give evidence by video link. The defendant appealed that order. Held: There was no absolute rule which would allow the order made. The judge had considered that if … Continue reading Polanski v Conde Nast Publications Limited: CA 11 Nov 2003

BMBF (No 24) Limited v the Commissioners of Inland Revenue: CA 6 Nov 2003

The taxpayer, a non-resident, operated a sale and lease back scheme of machinery to be used in its business within the UK. There had been a chain of leases. Held: The court had first to identify the ‘relevant lease’. It was the head lease which was the lease of the machinery on which the expemse … Continue reading BMBF (No 24) Limited v the Commissioners of Inland Revenue: CA 6 Nov 2003

Amiri Flight Authority v BAE Systems Plc: CA 17 Oct 2003

The appellant had contracted to purchase maintenance from the defendant of aircraft it had also purchased from them. They sought damages for negligence, saying the defendants had failed to prevent a known risk of corrosion. The defendants argued that its contract excluded liability, and under the Act, that clause was not subjected to a test … Continue reading Amiri Flight Authority v BAE Systems Plc: CA 17 Oct 2003

New Angel Court Ltd v Adam (Inspector of Taxes): ChD 25 Jul 2003

The taxpayer company employed a subsidiary company through which it conducted its trade in land. It then sought to represent the profits from that subsidiary within its own accounts as trading profits for corporation tax purposes. The commissioner viewed the arrangement as window dressing to maximise claims of expenditure against income. Held: The rule required … Continue reading New Angel Court Ltd v Adam (Inspector of Taxes): ChD 25 Jul 2003

Official Receiver v Wadge Rapps and Hunt (a firm) and another and two other actions: HL 31 Jul 2003

(Orse In re Pantmaenog Timber Co Ltd)The Receiver sought to use information obtained under section 236 (documents recovered from the directors’ solicitors) in disqualification proceedings. Held: The appeal succeeded. The Act had explicitly given the requisite powers to the receiver whether or not he was the liquidator. Nor was the purpose of the use restricted. … Continue reading Official Receiver v Wadge Rapps and Hunt (a firm) and another and two other actions: HL 31 Jul 2003

Hampshire County Council v Beer (T/A Hammer Trout Farm); Regina (Beer) v Hampshire Farmers’ Market Ltd: CA 21 Jul 2003

The applicant had been refused a licence to operate within the farmer’s market. It sought judicial review of the rejection, but the respondent argued that it was a private company not susceptible to review. Held: The decisions of the Farmers Market were open to judicial review. The farmers markets were held on publicly owned land … Continue reading Hampshire County Council v Beer (T/A Hammer Trout Farm); Regina (Beer) v Hampshire Farmers’ Market Ltd: CA 21 Jul 2003

Williams v Horsham District Council: Admn 26 Jun 2003

The resident owned a house but lived elsewhere, visiting the cottage only occasionally, and not staying overnight. He paid full council tax at first but then sought a rebate under the Act. Held: The tribunal had exaggerated the importance of the fact that his wife lived elsewhere and that he did not stay overnight. They … Continue reading Williams v Horsham District Council: Admn 26 Jun 2003

Commissioners of Inland Revenue v Eversden Eversden (As Executors of the Will of Greenstock Deceased): CA 15 May 2003

The executors challenged the assessment to Inheritance tax on the estate. The commissioners claimed that a gift of property into a trust included a sufficient reservation of benefit to disallow it as an exempt transfer. Held: The scheme was effective. The trust provided for the income to be paid to the settlor’s husband during his … Continue reading Commissioners of Inland Revenue v Eversden Eversden (As Executors of the Will of Greenstock Deceased): CA 15 May 2003

Fowler De Pledge (A Firm) v Smith: CA 20 May 2003

The appellant sought two permissions to appeal. Having at one stage been legally aided in proceedings, a claim for his solicitors costs had been compromised. The court records were imperfect. It was not clear whether a circuit judge sitting as a first appeal court had directed that a matter should be heard by another circuit … Continue reading Fowler De Pledge (A Firm) v Smith: CA 20 May 2003

Cinderella Rockerfellas Ltd v Rudd (Valuation Officer): CA 11 Apr 2003

The taxpayer appealed against a rating assessment on a barge permanently moored at a riverbank. He claimed that as a chattel, it should not be rated. Held: The vessel was a chattel, but its occupation could be an occupation of the riverbed. The licences were stated to be non-exclusive, but the law of rating looks … Continue reading Cinderella Rockerfellas Ltd v Rudd (Valuation Officer): CA 11 Apr 2003

Edwards, Drummond Smith v Flightline Limited: CA 5 Feb 2003

The applicant company obtained an injunction against another company. That freezing injunction was discharged upon the payment of a sum into the names of the respective parties’ solicitors. The company went into liquidation, and the claimant disputed ownership of the sum with the provisional liquidators. Held: The deposit of the sum was insufficient to create … Continue reading Edwards, Drummond Smith v Flightline Limited: CA 5 Feb 2003

Bristol and West plc v Bartlett and Another; Paragon Finance plc v Banks; Halifax plc v Grant: CA 31 Jul 2002

The defendants resisted claims by lenders for the payment of mortgage debts. In each case the lender had exercised the power of sale before issuing proceedings for possession. The defendants queried the limitation period applicable. Held: The exercise of the power of sale did not mean that the original mortgage debt changed. The recovery of … Continue reading Bristol and West plc v Bartlett and Another; Paragon Finance plc v Banks; Halifax plc v Grant: CA 31 Jul 2002

On Demand Information Plc and others v Michael Gerson (Finance) Plc and others: HL 18 Apr 2002

The claimant took equipment under leases. After the initial period the rentals would be renewed without substantial further rental payments. The company went into administration after or toward the end of the initial period, and the lessors sought to reclaim the equipment. The administrators sought to sell it. During the case an order was made … Continue reading On Demand Information Plc and others v Michael Gerson (Finance) Plc and others: HL 18 Apr 2002

Genira Trade and Finance Inc v CS First Boston and Standard Bank (London) Limited: CA 21 Nov 2001

The court considered the circumstances under which it could be called upon to assist a foreign court. Held: It is the duty and pleasure of the court to give all such assistance as it can to the requesting court within the limits imposed by the 1975 Act from which the jurisdiction to make orders of … Continue reading Genira Trade and Finance Inc v CS First Boston and Standard Bank (London) Limited: CA 21 Nov 2001

Professional Contractors’ Group and Others v Commissioners of Inland Revenue: CA 21 Dec 2001

Legislation had been enacted to tax under Schedule E, people employed through one man service companies and similar. Representatives of such taxpayers sought review of the legislation as incompatible with European law being a hindrance to the freedom of movement of workers and also state aid. The law set to catch those who would be … Continue reading Professional Contractors’ Group and Others v Commissioners of Inland Revenue: CA 21 Dec 2001

Smith (Administrator of Cosslett (Contractors) Limited) v Bridgend County Borough Council; In re Cosslett (Contractors) Ltd: HL 8 Nov 2001

The standard building contract allowed a contractor to take plant and equipment from a site and sell it in payment of sums due under the contract, upon the other contractor becoming insolvent. It was said that this power amounted to a charge over the company’s assets, and should have registered at Companies House. Upon entering … Continue reading Smith (Administrator of Cosslett (Contractors) Limited) v Bridgend County Borough Council; In re Cosslett (Contractors) Ltd: HL 8 Nov 2001

Eurodata Systems plc v Michael Gershon (Finance) plc: QBD 26 Apr 2002

A lease finance provider sent invoice instructions to the claimant company, but these were accompanied by oral instructions requiring the execution of the equipment leases first. The leases were not signed. The defendant issued a cheque but cancelled it. Held: A contract had not been made and the defendant was not liable. The requirement that … Continue reading Eurodata Systems plc v Michael Gershon (Finance) plc: QBD 26 Apr 2002

Fraser and Another v Canterbury Diocesan Board Of Finance (No 1): CA 24 Nov 2000

A grant of land was made under the 1841 Act in 1872 (after the 1870 Act) and the school had in 1874 been transferred to a school board under section 23 of the 1870 Act. The school closed permanently in 1992. The issue was whether reverter had occurred in 1874, with the result that the … Continue reading Fraser and Another v Canterbury Diocesan Board Of Finance (No 1): CA 24 Nov 2000

Barclays Mercantile Business Finance Ltd v Mawson (Inspector of Taxes): ChD 22 Jul 2002

The taxpayer sought to claim for capital allowances of andpound;91 million for gas pipelines. The claimant had provided the equipment through a leasing scheme. Held: The leases were unusual, but did not appear to be merely part of a tax avoidance scheme. However, here the company already owned and operated the pipeline, and continued to … Continue reading Barclays Mercantile Business Finance Ltd v Mawson (Inspector of Taxes): ChD 22 Jul 2002

7 Strathay Gardens Ltd v Pointstar Shipping and Finance Ltd and Another: CA 15 Dec 2004

The tenants served a notice on the landlord to enfanchise their properties. The landlord’s counter-notice failed to state whether any estate management scheme existed. The tenants said the counter-notice was invalid. Held: The landlord’s appeal succeeded. The paragraph requiring the statement was a directory requirement, and a failure to comply did not invalidate the notice. … Continue reading 7 Strathay Gardens Ltd v Pointstar Shipping and Finance Ltd and Another: CA 15 Dec 2004

Silven Properties Limited, Chart Enterprises Incorporated v Royal Bank of Scotland Plc, Vooght, Harris: CA 21 Oct 2003

The claimants sought damages from mortgagees who had sold their charged properties as receivers. They said they had failed to sell at a proper value. They asked whether the express appointment in the mortgage of receivers as agents of the mortgagor leads to the assumption by receivers who accept such appointment of responsibilities and duties … Continue reading Silven Properties Limited, Chart Enterprises Incorporated v Royal Bank of Scotland Plc, Vooght, Harris: CA 21 Oct 2003

Routestone Ltd v Minories Finance: ChD 1996

A receiver’s management duties will ordinarily impose on him no general duty to exercise the power of sale, or to ‘work’ an estate by refurbishing it before sale. Speaking of the role of an expert witness ‘What really matters in most cases are the reasons given for the opinion. As a practical matter a well … Continue reading Routestone Ltd v Minories Finance: ChD 1996

Overseas Containers (Finance Ltd) v Stoker: 1989

A transaction must be looked at as a whole in order to establish whether it was a genuine trading transaction eligible for tax relief, or was an action engendered solely by fiscal motives. Citations: [1989] 1 WLR 606 Jurisdiction: England and Wales Cited by: Cited – New Angel Court Ltd v Adam (Inspector of Taxes) … Continue reading Overseas Containers (Finance Ltd) v Stoker: 1989

SCF Finance Co Ltd v Masri (No 3): 1987

The court accepted that in a case where the garnishee was not indebted within the jurisdiction that might be relevant to the exercise of the court’s discretion. Since, in this case, the debt in question was an English debt, the court’s jurisdiction in relation to foreign debts did not fall for decision. The legislation has … Continue reading SCF Finance Co Ltd v Masri (No 3): 1987

Marle Participations SARL v Ministre de l’Economie et des Finances,: ECJ 5 Jul 2018

Vat – Direct or Indirect Involvement of A Holding Company In The Management of Its Subsidiaries – Judgment – Reference for a preliminary ruling – Value added tax (VAT) – Directive 2006/112/EC – Articles 2, 9 and 168 – Economic activity – Direct or indirect involvement of a holding company in the management of its … Continue reading Marle Participations SARL v Ministre de l’Economie et des Finances,: ECJ 5 Jul 2018

Cullinane v British “Rema” Manufacturing Co Ltd: CA 1954

The court considered the possibility of a claim in breach of contract for damages for both capital loss and loss of profit. Lord Evershed MR said: ‘It seems to me, as a matter of principle, that the full claim of damages in the form in which it is pleaded was not sustainable, in so far … Continue reading Cullinane v British “Rema” Manufacturing Co Ltd: CA 1954

Synaptek Ltd v Young (Inspector of Taxes): ChD 28 Mar 2003

The taxpayer was a computer consultant working through the medium of a limited liability company. The respondent sought to make him liable for social security contributions as an employee of the business which used his services. Held: The anti-avoidance provisions were effective. The court listed the factors which weighed on either side of asking whether … Continue reading Synaptek Ltd v Young (Inspector of Taxes): ChD 28 Mar 2003

MacDonald (Inspector of Taxes) v Dextra Accessories Ltd and Others: ChD 16 Apr 2003

The inspector sought to disallow charging to current tax period payments made by the employer to an employee benefit trust. Held: The payments were not made and held by the trustees ‘with a view to becoming relevant emoluments’ within the section, and so were deductible from profits. The provision sought to restrain charging against current … Continue reading MacDonald (Inspector of Taxes) v Dextra Accessories Ltd and Others: ChD 16 Apr 2003

HIH Casualty and General Insurance Limited and others v Chase Manhattan Bank and others: HL 20 Feb 2003

The insurance company had paid claims on policies used to underwrite the production of TV films. The re-insurers resisted the claims against them by the insurers on the grounds of non-disclosure by the insured, or in the alternative damages for misrepresentation. The policies were novel and sophisticated contracts and included clauses modifying the duties of … Continue reading HIH Casualty and General Insurance Limited and others v Chase Manhattan Bank and others: HL 20 Feb 2003

Societe Eram Shipping Company Limited and others v Hong Kong and Shanghai Banking Corp Ltd, Compagnie Internationale de Navigation: HL 12 Jun 2003

The appeal concerned a final third party debt order (formerly a garnishee order). A judgment in France was registered here for enforcement. That jurisdiction was now challenged. Held: A third party debt order is a proprietary remedy operating by attachment against the property of the judgment debtor. The property so attached is the chose in … Continue reading Societe Eram Shipping Company Limited and others v Hong Kong and Shanghai Banking Corp Ltd, Compagnie Internationale de Navigation: HL 12 Jun 2003

Blackburn (HM Inspector of Taxes) v Keeling: CA 21 Aug 2003

The tax payer sought to have reflected in his PAYE coding, his substantial trading losses arising from his activities as a Name /underwriter at Lloyds in 2003. Held: The underwriting year 2003 ends in the year of assessment 2003/4, and therefore ‘corresponds’ to that year of assessment. Accordingly, losses declared in May 2003, and other … Continue reading Blackburn (HM Inspector of Taxes) v Keeling: CA 21 Aug 2003

National Westminster Bank v Utrecht-America Finance Company: CA 10 May 2001

An agreement between the parties for assignment or novation of a credit agreement, contained a ‘take out’ agreement (‘TOA’). The defendant began proceedings in California to rescind the agreement, and the claimants obtained summary judgement under the TOA and an injunction to prevent the defendants proceeding in California. The defendants appealed. There were allegations of … Continue reading National Westminster Bank v Utrecht-America Finance Company: CA 10 May 2001

Paragon Finance Plc (Formerly the National Home Loans Corporation Plc) v Pender and Pender: ChD 25 Nov 2003

Section 114 of the 1925 Act has no application to Registered Land. It provides for a transfer ‘unless a contrary intention is expressed’ in the mortgage. Thus if section 114 applies, all depends upon the true construction of the mortgage. The power under the Civil Procedure Rules to revoke an earlier order included a power … Continue reading Paragon Finance Plc (Formerly the National Home Loans Corporation Plc) v Pender and Pender: ChD 25 Nov 2003

BAS Capital Funding Corporation, Deutsche Bank Ag London, Paine Webber Capital Inc, PW Exe Lp, Pw Partners 1999 Lp v Medfinco Limited, Abacus Holdings Limited, Andreas W Gerdes, HTC Inc, etc: ChD 25 Jul 2003

The claimants wanted to bring actions in respect of various matters under shareholders agreements in complex international joint ventures. Leave was given to serve English proceedings in Malta, and the claim form and particulars of claim were faxed and emailed and delivered by hand at the registered offices of the company and at the private … Continue reading BAS Capital Funding Corporation, Deutsche Bank Ag London, Paine Webber Capital Inc, PW Exe Lp, Pw Partners 1999 Lp v Medfinco Limited, Abacus Holdings Limited, Andreas W Gerdes, HTC Inc, etc: ChD 25 Jul 2003

Camas Plc v HM Inspector of Taxes: ChD 7 Jul 2003

An investment company sought to set against its liability to corporation tax, the various costs of taking over another company. They argued that as an investment company these were not costs of the purchase and could be set against tax. Held: The phrase ‘expenses of management’ is an ordinary expression not made up of words … Continue reading Camas Plc v HM Inspector of Taxes: ChD 7 Jul 2003

Scottish Equitable Plc v Thompson and Another: CA 6 Feb 2003

The mortgage deed, which was a second mortgage, did not contain any express covenant to repay the principal sum, but only for monthly interest instalments with no element of capital repayment, since the principal was to be paid from an insurance policy. The property was re-possessed and sold, leaving nothing for the second mortgagee after … Continue reading Scottish Equitable Plc v Thompson and Another: CA 6 Feb 2003

Sasea Finance Ltd v KPMG (Formerly KPMG Peat Marwick Mclintock): ChD 10 May 2001

It was complained that the auditors had failed timeously to warn the company of fraud by a senior employee. The appeal concerned an application to strike out heads of claim in an action brought by the company against its auditors for negligence. Held: Appeal allowed. It was submitted that the auditors’ duty did not extend … Continue reading Sasea Finance Ltd v KPMG (Formerly KPMG Peat Marwick Mclintock): ChD 10 May 2001

T and N Limited, Associated Companies of T and N Ltd (In Administration) v Royal and Sun Alliance Plc, and others: ChD 9 May 2003

T and N had exposure to asbestosis claims; these claims were insured by Lloyd’s but on terms that if payments were to be made, T and N should make certain reimbursements to Lloyd’s. T and N then insured with a captive company known as Curzon their liability to make such reimbursements. Lloyd’s called on T … Continue reading T and N Limited, Associated Companies of T and N Ltd (In Administration) v Royal and Sun Alliance Plc, and others: ChD 9 May 2003

Kahn and Another v Commissioners of Inland Revenue; In re Toshoku Finance plc: HL 20 Feb 2002

A company went into liquidation, being owed substantial sums by another company in the same group, but itself insolvent. A settlement did not include accrued interest, but was claimed to be taxed as if it had, and on an accruals basis. If so, was this an expense properly arising in the insolvency, and payable as … Continue reading Kahn and Another v Commissioners of Inland Revenue; In re Toshoku Finance plc: HL 20 Feb 2002

Regina v Central Valuation Officer and another ex parte Edison First Power Limited: HL 10 Apr 2003

Powergen sold a property to Edison. Powergen had paid rates under a separate statutory rating regime, and paid an additional thirteen million pounds under an apportionment. Edison later complained that in being rated itself, the authorities had collected rates twice for the same property. It challenged the legality of the order under which the rates … Continue reading Regina v Central Valuation Officer and another ex parte Edison First Power Limited: HL 10 Apr 2003

Commissioners of Customs and Excise v DFS Furniture Company Plc: ChD 16 Apr 2003

The Commissioners had been ordered to repay VAT to the taxpayer. A subsequent decision of the ECJ meant that the sum should have been repaid to the Commissioners. The taxpayer now alleged that the commissioners were out of the two year maximum time to make the reclaim under the Act. Held: The decision of the … Continue reading Commissioners of Customs and Excise v DFS Furniture Company Plc: ChD 16 Apr 2003

U K Housing Alliance (North West) Ltd v Bowyer and Others (Contracts and Options : Contracts for Sale): LRA 18 Mar 2013

LRA The Applicant, now in administration, was in business in 2007 to 2008 buying residential properties from owners in occupation for full market value, payable as to 70 per cent on completion and as to the 30 per cent balance, subject to conditions, at the expiry of ten years. At the same time it entered … Continue reading U K Housing Alliance (North West) Ltd v Bowyer and Others (Contracts and Options : Contracts for Sale): LRA 18 Mar 2013

Lordsvale Finance Plc v Bank of Zambia: QBD 20 Mar 1996

The court looked at a facility agreement opened by a bank in favour of the defendant which provided that in the event of default the defendant should pay interest during the period of default at an aggregate rate equal to the cost to the bank of obtaining the deposits required to fund its participation, an … Continue reading Lordsvale Finance Plc v Bank of Zambia: QBD 20 Mar 1996

Cuckmere Brick Co Ltd v Mutual Finance Ltd: CA 1971

A mortgagee selling as mortagee in possession must ‘take reasonable care to obtain the true value of the property at the moment he chooses to sell it’ and obtain the best price for the property reasonably obtainable on the open market. However, Salmon LJ said: ‘No doubt in deciding whether he has fallen short of … Continue reading Cuckmere Brick Co Ltd v Mutual Finance Ltd: CA 1971

E D and F Man Liquid Products Ltd v Patel and Another: CA 4 Apr 2003

The rules contained two occasions on which a court would consider dismissal of a claim as having ‘no real prospect’ of success. Held: The only significant difference between CPR 24.2 and 13.3(1), is that under the first the overall burden of proof rests upon the claimant to establish that there are grounds for his belief … Continue reading E D and F Man Liquid Products Ltd v Patel and Another: CA 4 Apr 2003

DEG-Deutsche Investitions und Entwicklungsgesellschaft mbH v Koshy and Other (No 3); Gwembe Valley Development Co Ltd (in receivership) v Same (No 3): CA 28 Jul 2003

The company sought to recover damages from a director who had acted dishonestly, by concealing a financial interest in a different company which had made loans to the claimant company. He replied that the claim was out of time. At first instance the first defendant had been found dishonest through non-disclosure, and that section 21 … Continue reading DEG-Deutsche Investitions und Entwicklungsgesellschaft mbH v Koshy and Other (No 3); Gwembe Valley Development Co Ltd (in receivership) v Same (No 3): CA 28 Jul 2003

Collector of Stamp Revenue v Arrowtown Assets Ltd: 4 Dec 2003

(Hong Kong Final Court of Appeal) The court was asked as to the accounting treatment of interests incurred in the development for the purpose of generating the profits, and therefore whether the relevant Ordinance prohibited the capitalisation of interest for the purpose of computing the taxpayer’s assessable profits and allowable deductions. Held: Where schemes involve … Continue reading Collector of Stamp Revenue v Arrowtown Assets Ltd: 4 Dec 2003

Barclays Mercantile Business Finance Ltd v Mawson (HM Inspector of Taxes): HL 25 Nov 2004

The company had paid substantial sums out in establishing a gas pipeline, and claimed those sums against its tax as capital allowances. The transaction involved a sale and leaseback arrangement which the special commissioners had found to be a pre-arranged series created only for a tax advantage, and the judge at first instance agreed saying … Continue reading Barclays Mercantile Business Finance Ltd v Mawson (HM Inspector of Taxes): HL 25 Nov 2004