Jasper Alexander Thirlby Conran JC Vision Ltd v Revenue and Customs: FTTTx 3 Feb 2022

Income Tax and Corporation Tax – Disposal of A Business To A Group Company – ascertaining market value – intangibles relief – whether payment was a distribution – substitution of market value under Schedule 29 FA 2002 – held – valuation of assets actually transferred was 1 pound – no chargeable gain realised on disposal – no distribution – market value required to be substituted for purposes of intangibles relief – appeal of first appellant allowed – appeal of second appellant dismissed

Citations:

[2022] UKFTT 39 (TC)

Links:

Bailii

Jurisdiction:

England and Wales

Income Tax, Corporation Tax

Updated: 13 April 2022; Ref: scu.675644