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Lloyds UDT Finance Limited v Chartered Finance Trust Holdings Plc and others: ChD 22 Nov 2001

The Act restricted the extent to which payment made for the hire of vehicles exceeding certain values could be deducted from profits when calculating tax. Autolease hired cars and then relet them to the public. On the sale of the company the question arose as to whether that restriction might apply only to those cars … Continue reading Lloyds UDT Finance Limited v Chartered Finance Trust Holdings Plc and others: ChD 22 Nov 2001

Britax International Gmbh v Commissioners of Inland Revenue: CA 31 May 2002

‘The issue in the appeal is as to the true construction of section 35(2) in Chapter III of Part II of the Capital Allowances Act 1990 . . Section 35(2) restricts the extent to which expenditure on the ‘hiring’ of an ‘expensive motor car’ (that is to say, a car the retail price of which … Continue reading Britax International Gmbh v Commissioners of Inland Revenue: CA 31 May 2002

Regina v Inland Revenue Commissioners Ex Parte Matrix Securities Ltd: HL 14 Mar 1994

The applicant had obtained what it thought to be clearance from the Revenue for a complex scheme, whose effectiveness depended on whether investors would qualify for capital allowances. The Inspector initially gave a favourable assurance, but that was subsequently withdrawn. Held: The taxpayer’s application failed. A tax clearance certificate was properly withdrawn for a failure … Continue reading Regina v Inland Revenue Commissioners Ex Parte Matrix Securities Ltd: HL 14 Mar 1994

Bestway (Holdings) Ltd v Luff (Inspector of Taxes): ChD 4 Mar 1998

The taxpayer company operated a wholesale cash and carry business from a number of self-service supermarkets. The stores sold groceries, household goods, tobacco, confectionery and various kinds of alcohol. Although the buildings were not open to the public the customers who were mainly retail traders and caterers had access to most parts of the store … Continue reading Bestway (Holdings) Ltd v Luff (Inspector of Taxes): ChD 4 Mar 1998

Moore Stephens (A Firm) v Stone Rolls Ltd (in liquidation): HL 30 Jul 2009

The appellants had audited the books of the respondent company, but had failed to identify substantial frauds by an employee of the respondent. The auditors appealed a finding of professional negligence, relying on the maxim ex turpi causa non oritur actio. Held: (Mance and Scott LL dissenting) The appeal succeeded. The company could not bring … Continue reading Moore Stephens (A Firm) v Stone Rolls Ltd (in liquidation): HL 30 Jul 2009

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