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British American Trustee and Finance Corporation v Couper: HL 16 Apr 1894

The court considered how an unfettered discretion vested in a court should be exercised. Citations: [1894] AC 399, (1891-4) All ER Rep 667, [1894] UKLawRpAC 21 Links: Commonlii Jurisdiction: England and Wales Cited by: Cited – Winpar Holdings Ltd v Ransomes Plc CA 1-Jul-1999 The company had been given permission to cancel a share premium … Continue reading British American Trustee and Finance Corporation v Couper: HL 16 Apr 1894

Ingram and Palmer-Tomkinson (Executors of the Estate of Lady Jane Lindsay Morgan Ingram Deceased) v Commissioners of Inland Revenue: CA 28 Jul 1997

The deceased had first conveyed property to her solicitor. Leases back were then created in her favour, and then the freeholds were conveyed at her direction to her children and grandchildren. They were potentially exempt transfers. Held: (Millett LJ dissenting) The conveyance to the solicitor left the solicitor holding the property as bare trustee for … Continue reading Ingram and Palmer-Tomkinson (Executors of the Estate of Lady Jane Lindsay Morgan Ingram Deceased) v Commissioners of Inland Revenue: CA 28 Jul 1997

Special Commissioners of Income Tax v Linsleys (Established 1894), Ltd (In Liquidation): HL 23 Jan 1958

Surtax – Profits Tax – Company under control of not more than five persons-No estate or trading income-Income receipts less than deduction for Profits Tax in computing actual income from all sources – Whether Profits Tax payable ‘ – Whether Surtax direction mandatory so as to found Profits Tax exemption – Finance Act, 1947 (10 … Continue reading Special Commissioners of Income Tax v Linsleys (Established 1894), Ltd (In Liquidation): HL 23 Jan 1958

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

Banque Worms v Owners of the Ship Or Vessel Maule and others: PC 24 Feb 1997

(Hong Kong) The ship-owners challenged the arrest of the ship under a mortgage in favour of the bank. They said no instalment was due. Held: The plaintiffs were not obliged to give notice accelerating repayment of the loan before exercising their express power of sale under that clause. It follows that the writ, though defective … Continue reading Banque Worms v Owners of the Ship Or Vessel Maule and others: PC 24 Feb 1997

Attorney General v Milne: HL 7 Apr 1914

Section 1 of the Finance Act 1894 enacts that estate duty should be leviable on the principal value of all property, real or personal, settled or not settled, which passes on the death of the deceased. Section 2, sub-section 1, as amended by section 59 of the Finance (1909-10) Act 1910, enacts-‘Property passing on the … Continue reading Attorney General v Milne: HL 7 Apr 1914

Duke of Buccleuch v Inland Revenue Commissioners: HL 1967

When a valuation was to be attributed to a property the test must be applied to the property as it actually existed and not to some other property, even if in real life a vendor would have been likely to make some changes or improvements before putting it on the market. As to ‘Splitting and … Continue reading Duke of Buccleuch v Inland Revenue Commissioners: HL 1967

Salvesen’s Trustees v Inland Revenue Commissioners: SCS 1930

The court considered the valuation of shares in a notional purchase. The company’s articles of association contained a provision that the company might at any time, by extraordinary resolution, resolve that any shareholder, other than a director or a person holding more than 10 per cent of the shares of the company do transfer his … Continue reading Salvesen’s Trustees v Inland Revenue Commissioners: SCS 1930

Winpar Holdings Ltd v Ransomes Plc: CA 1 Jul 1999

The company had been given permission to cancel a share premium account. Changes in circumstances brought the matter back for reconsideration. Judges: The Lord Chief Justice Of England, Lord Justice Otton And Lord Justice Robert Walker Citations: [1999] EWCA Civ 1732, [1999] 2 BCLC 591, [2000] BCC 455, [1999] EWCA Civ 1732, [2000] BCC 455, … Continue reading Winpar Holdings Ltd v Ransomes Plc: CA 1 Jul 1999

Attorney-General for Ireland v Jameson: CA 1905

The court was asked as to the valuation of shares. The shares were subject to restrictions on transfer. Held: The price which the shares would fetch if sold on the open market should reflect the terms on which the purchaser would be entitled to be registered. Holmes LJ said: ‘The Attorney-General and the defendants agree … Continue reading Attorney-General for Ireland v Jameson: CA 1905

HSBC Bank Plc v Dyche and Another: ChD 18 Nov 2009

The parties disputed the claimed beneficial interest of the second defendant. The second defendant (C) said that it had been purchased for him by the first defendant (D) from C’s trustee in bankruptcy, and was thereafter held in trust for him on the basis that C would repay D. Held: The property was held on … Continue reading HSBC Bank Plc v Dyche and Another: ChD 18 Nov 2009

National Provident Institution v Customs and Excise: VDT 18 Feb 2005

VDT VALUE ADDED TAX – input tax -Appellant made exempt supplies of finance (the sale of securities) outside the member states with a right to recovery of input tax (specified supplies) as well as taxable and exempt supplies – no goods or services supplied to the Appellant were used exclusively in making specified supplies – … Continue reading National Provident Institution v Customs and Excise: VDT 18 Feb 2005

Navitaire Inc v Easyjet Airline Co and Another: ChD 30 Jul 2004

The claimant alleged infringement of its copyright in a software system which dealt with airline reservations. It was not said that any code had been copied, but merely that an express requirement of the defendant ordering the system was that it should appear similar to the claimant’s system; it should have its look and feel. … Continue reading Navitaire Inc v Easyjet Airline Co and Another: ChD 30 Jul 2004

Attorney General v Duke of Richmond: HL 26 Jul 1909

An heir of entail in possession of Scottish heritage carried out disentailing procedure. The heritage was disentailed, the valued interests of the succeeding heirs being charged thereon. This was admittedly done with the object of reducing the total value of the estate for estate duty purposes by the amounts so charged upon the lands. Held … Continue reading Attorney General v Duke of Richmond: HL 26 Jul 1909

Vizcaya Partners Ltd v Picard and Another: PC 3 Feb 2016

No Contractual Obligation to Try Case in New York (Gibraltar) The appellant had invested in a fraudulent Ponzi scheme run by Bernard Madoff. They were repaid sums before the fund collapsed, and the trustees now sought repayment by way of enforcement of an order obtained in New York. Held: The appeal was allowed. There was … Continue reading Vizcaya Partners Ltd v Picard and Another: PC 3 Feb 2016

Grays Timber Products Ltd v Revenue and Customs: SC 3 Feb 2010

An assessment to income tax had been raised after the employee resold shares in the company issued through the employees’ share scheme at a price which the Revenue said was above the share value. The company appealed against a finding that tax was payable. Held: The appeal failed. The Revenue should calculate the price which … Continue reading Grays Timber Products Ltd v Revenue and Customs: SC 3 Feb 2010

Douglas and others v Hello! Ltd and others (No 3): CA 18 May 2005

The principal claimants sold the rights to take photographs of their wedding to a co-claimant magazine (OK). Persons acting on behalf of the defendants took unauthorised photographs which the defendants published. The claimants had retained joint copyright over the photographs and reserved a right to control publication of any particular photographs. In return they made … Continue reading Douglas and others v Hello! Ltd and others (No 3): CA 18 May 2005

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

St Aubyn v Attorney General: HL 12 Jul 1951

The donor exercised powers of appointment ‘to make some part of the settled property his own’, and it was ‘wholly irrelevant that by a contemporaneous or later transaction he surrenders his life interest in other parts of it’. The different parts of the property were distinct personal assets, none being real property or an interest … Continue reading St Aubyn v Attorney General: HL 12 Jul 1951

NML Capital Ltd v Argentina: SC 6 Jul 2011

The respondent had issued bonds but in 2001 had declared a moratorium on paying them. The appellant hedge fund later bought the bonds, heavily discounted. Judgment was obtained in New York, which the appellants now sought to enforce against assets in the UK. They argued that the terms of issue waived state immunity. Held: The … Continue reading NML Capital Ltd v Argentina: SC 6 Jul 2011

Royal Bank of Scotland Plc v Wilson and Another: SC 24 Nov 2010

(Scotland) Neighbours had each granted a standard security over their respective properties to the bank. The charge agreements contained personal covenants to repay the sums borrowed on demand. The land-owners appealed against an order for ejectment. Held: The borrowers’ appeal succeeded. The 1970 Act created the standard security but it was a very technical Act. … Continue reading Royal Bank of Scotland Plc v Wilson and Another: SC 24 Nov 2010

Holland v Revenue and Customs and Another: SC 24 Nov 2010

The Revenue sought an order under section 212 of the 1986 Act, for payment of the tax debts of the insolvent company by a de facto director. H had organised a scheme under which IT contractors had worked through companies created by him under a composite company scheme, and in each of which he retained … Continue reading Holland v Revenue and Customs and Another: SC 24 Nov 2010