The plaintiffs had paid deposits for apartments which were to be built. After the developer became insolvent the plaintiffs sought recovery of the deposits, saying they had a lien which preceded the claims of chargees. Held: The one appeal failed and another succeeded. ‘the circumstances in which a purchaser’s lien will arise are not limited … Continue reading Chattey and Another v Farndale Holdings Inc and others: CA 11 Oct 1996
A client who sues his former solicitor, waives his legal privilege protection, as regards that legal relationship, but that does not require a waiver also, of other privilege with later solicitors instructed in related matters. Lord Bingham LCJ said: ‘A client expressly waives his legal privilege when he elects to disclose communications which the privilege … Continue reading Paragon Finance Plc (Formerly Known As National Home Loans Corporation Plc); etc v Freshfields (a Firm): CA 11 Mar 1999
Judges: Andrew Smith J Citations: [2007] EWHC 195 (Comm), [2007] ArbLR 21, [2007] 1 Lloyd’s Rep 382 Links: Bailii Statutes: Arbitration Act 1996 32 Jurisdiction: England and Wales Arbitration, Banking Updated: 04 December 2022; Ref: scu.248952
Courts should be careful before allowing unqualified persons to represent other parties at court. Pleadings and similar documents must be signed by the party or their qualified legal representative. Others signing them may be in contempt of court and committing criminal offences. A McKenzie friend had no right to act as such, only the right … Continue reading Noueiri v Paragon Finance Plc (Practice Note): CA 19 Sep 2001
Citations: [1996] EWCA Civ 1187 Jurisdiction: England and Wales Litigation Practice Updated: 04 November 2022; Ref: scu.141055
VICTIMISATION DISCRIMINATION – Whistleblowing PRACTICE AND PROCEDURE – Perversity The Claimant was a worker employed by the Respondent on a temporary assignment. On 14 March 2017, the Respondent terminated the assignment with immediate effect. There had been a meeting the previous day between the Claimant and one of the Respondent’s managers. The Claimant had made … Continue reading Riley v Belmont Green Finance Ltd (T/A Vida Homeloans) (Victimisation Discrimination- Whistleblowing- Perversity): EAT 13 Mar 2020
The objector sought leave to appeal. He had objected to spending on a war memorial. The district auditor when declining to intervene had given his reasons. The claimant objected that he should have waited before giving those reasons. Held: Either the reasons were validly delivered in which case the objection failed, or they were not … Continue reading Regina v District Auditor, Gateshead ex parte Judge P: CA 8 Nov 1996
Citations: [1996] EWCA Civ 697 Jurisdiction: England and Wales Litigation Practice, Costs Updated: 31 October 2022; Ref: scu.140564
A dishonest failure to register for VAT is caught by the penalty provisions as ‘any act’. Citations: Times 15-Aug-1996 Statutes: Finance Act 1985 13(1) Jurisdiction: England and Wales VAT, Taxes Management Updated: 31 October 2022; Ref: scu.79400
The use of a wall for an advertisement hoarding created a separate and ratable hereditament. Citations: Times 03-Jun-1996 Statutes: Local Government Finance Act 1988 64 Jurisdiction: England and Wales Rating Updated: 31 October 2022; Ref: scu.84413
A policy which paid out the same amount on surrender as on death, was still life assurance. Citations: Times 15-Jul-1996 Statutes: Life Assurance Act 1774 1 Jurisdiction: England and Wales Insurance Updated: 31 October 2022; Ref: scu.80701
A strictly mathematical approach to calculating ancillary relief can be inappropriate in large sum cases. The statutory jurisdiction has to provide for all applications for ancillary financial relief, from the poverty stricken to the multi-millionaire. Held: The court to reconcile existing practice wit the statute. Reasonable requirements are more extensive than needs. What a person … Continue reading Dart v Dart: CA 2 Jul 1996
Automatic directions did not apply to proceedings transferred from the High Court before 1990. Citations: Times 19-Jan-1996, Gazette 21-Feb-1996 Statutes: County Court Rules 1981 17(11) Jurisdiction: England and Wales Litigation Practice Updated: 27 October 2022; Ref: scu.89723
Time share lettings are not rights in rem. UK consumer law applies to loans made for their purchase, and UK banks are liable for misrepresentations made by foreign companies if they are providing the finance. Judges: Morris Ward, Potter LJJ Citations: Times 18-Nov-1996, Gazette 12-Feb-1997, [1996] EWCA Civ 847, [1999] QB 1, [1997] CLC 391, … Continue reading Jarrett v Barclays Bank Plc, Royal Bank of Scotland Plc and Jones v First National Bank Plc and Peacock v First National Bank Plc: CA 31 Oct 1996
A Church of England Assistant Curate is not an employee, but rather a holder of an ecclesiastical office. There is a presumption that ministers of religion were office-holders who did not serve under a contract of employment. Accordingly he is not entitled to claim to have been unfairly dismissed under the legislation. Mummery LJ said: … Continue reading Reverend Doctor A B Coker v Diocese of Southwark; Bishop of Southwark and Diocesan Board of Finance: CA 11 Jul 1997
Personal financial details were rightly required before a rate reduction could be granted. Citations: Ind Summary 01-Jan-1996 Statutes: Local Government and Finance Act 1988 49-2 Jurisdiction: England and Wales Rating Updated: 11 October 2022; Ref: scu.86138
The court discussed when it was appropriate for the Court of Appeal to substitute other lesser convictions, after the main conviction had been declared unsafe. Held: After studying the authorities at length, the court felt that the various convictions should be quashed, but that in some cases there was a possibility of substituting verdicts of … Continue reading Regina v Graham, Kansal, etc: CACD 25 Oct 1996
A bond contained an arbitration clause subject to a further clause giving the claimant an ‘exclusive right at its option to apply to the courts of England to settle any disputes which may arise out of or in connection with these presents’. The defendants started an arbitration challenging the claimant’s assertion that events of default … Continue reading Law Debenture Trust Corporation Plc v Elektrim Finance Bv and others: ChD 1 Jul 2005
The claimant had purchased the interests of a failed Formula One car racing team, including, it said, the right to enter a team in Formula One races. It claimed to have been unlawfully excluded from racing. Held: The claimant had failed to comply with the requirements imposed upon participants, and was not entitled to race. … Continue reading Phoenix Finance Limited v Federation Internationale De L’automobile, Formula One Management Limited, Formula One Administration Limited: ChD 22 May 2002
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
The court heard an appeal as to a point of principle and practice in relation to the granting of freezing orders in aid of the process of execution of an arbitration award. Judges: Ward, Tomlinson LJJ Citations: [2011] EWCA Civ 1040, [2011] ArbLR 29, [2012] 1 Lloyd’s Rep 6, [2012] 1 All ER (Comm) 223, … Continue reading Mobile Telesystems Finance Sa v Nomihold Securities Inc: CA 1 Sep 2011
The court considered an issue as to the primacy of the powers of the court contained in sections 67 and 68 (‘sections 67 and 68’) of the Arbitration Act 1996. Judges: Sir Geoffrey Vos, Chancellor of the High Cour Citations: [2019] EWCA Civ 2080 Links: Bailii Statutes: Arbitration Act 1996 Jurisdiction: England and Wales Arbitration … Continue reading Minister of Finance (Incorporated) v 1Malaysia Development Berhad and Others: CA 26 Nov 2019
The court considered how the losses of the insolvent company were to be distributed as between secured creditors and preferential creditors, given the terms of the applicable trust deed. Held: The court considered the interpretations of the deed, looking at the ‘landscape of the instrument as a whole’ and interpretations given. The Court emphasised the … Continue reading Sigma Finance Corporation, Re; (in administrative receivership): SC 29 Oct 2009
(Madras) ‘Nor can they [the dealers] modify the resulting damages on the footing that though in the absence of misrepresentation the plaintiff firm [the finance company] would not have made the contract with the defendants [the dealers] or with the hirer which it did in fact make, nevertheless even if it had known the facts … Continue reading The United Motor Finance Company v Messrs Addison and Company Limited: PC 10 Dec 1936
Losses which had been incurred in speculative non-commercial trading in shares and commodities were not ‘trade’ losses for income tax purposes, even though the tax payer intended to become involved in fund management as a career, and had intended these activities to be a commercially successful series. The taxpayer had claimed up to sixteen calls … Continue reading Wannell v Rothwell (Inspector of Taxes): ChD 29 Mar 1996
Millett LJ discussed the assertion of a vendor’s lien where a third party would be adversely affected: ‘A party with an equitable charge can be taken to agree to the postponement of his property against any party who was allowed to his knowledge to purchase the land on the faith that it is unencumbered.’ and … Continue reading Barclays Bank Plc v Estates and Commercial Limited: CA 20 Feb 1996
The re-insurers appealed against a finding that they were liable to make payment under a contract which required them to pay ‘sums actually paid.’ They said that the company having become insolvent, no payment would in fact be made. Held: The contract had to be construed as a whole. Under the contract, the sum became … Continue reading Charter Reinsurance Co Ltd v Fagan and Others: HL 24 May 1996
Local Authority may allow for finances in deciding on care but must look to individual case. Citations: Gazette 02-Aug-1996 Statutes: Chronically Sick and Disabled Persons Act 1970 2(1) Jurisdiction: England and Wales Citing: Appeal to – Regina v Gloucestershire County Council and Another, Ex Parte Barry HL 21-Mar-1997 The House considered the need when assessing … Continue reading Regina v Gloucestershire County Council Ex Parte Mahfood; Same v Same Ex Parte Barry Etc: QBD 2 Aug 1996
(New Zealand) Lord Hope said: ‘The intention of the parties is to be discovered from the words used in the document. Where ordinary words have been used they must be taken to have been used according to the ordinary meaning of these words. If their meaning is clear and unambiguous effect must be given to … Continue reading Melanesian Mission Trust Board v Australian Mutual Provident Society: PC 17 Dec 1996
The solicitor, acting in a land purchase transaction for his lay client and the plaintiff, had unwittingly misled the claimant by telling the claimant that the purchasers were providing the balance of the purchase price themselves without recourse to further borrowing when he knew that they were using an overdraft to obtain further funding. The … Continue reading Mothew (T/a Stapley and Co) v Bristol and West Building Society: CA 24 Jul 1996
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
(New Zealand) Mr and Mrs Goss, had been granted a loan by the claimant finance company under a mortgage instrument that had been avoided by the claimant because it had been fraudulently altered by Mr Haddon, an employee of the claimant, without the claimant’s authority. Mr Haddon was the brother of Mrs Goss. The advance … Continue reading Goss and others v Laurence George Chilcott As Liquidator of Central Acceptance Limited (In Liquidation): PC 23 May 1996
A curate is not an employee of the Church and cannot claim unfair dismissal. Judges: Hull QC Citations: [1995] UKEAT 374 – 95 – 0811 Links: Bailii Statutes: Employment Protection (Consolidation) Act 1978 Citing: Appeal from – Coker v Diocese of Southwark ET 16-Mar-1995 An Anglican clergyman is an employee of the church, and so … Continue reading Diocese of Southwark and Others v Coker: EAT 4 Apr 1996
A claim for an indemnity was made by two council officers who were also directors of a company set up by the local authority to finance and manage a waterpark for the public. The project failed and the company went into liquidation. The liquidator brought proceedings to recover substantial sums from them under the Insolvency … Continue reading Burgoine and Another v Waltham Forest London Borough Council and Another: ChD 7 Nov 1996
The parties’ contract provided for an uplift of 1% for late payment of a debt. Held: This was a genuine pre-estimate on the basis that it indicated that the borrower was a risky borrower. It was not a penalty. Judges: Colman J Citations: [1996] QB 752 Jurisdiction: England and Wales Cited by: Cited – Jeancharm … Continue reading Lordvale Finance plc v Bank of Zambia: 1996
Land was granted for use as a school for the education of poor persons in accordance with the principles of the National Society. In 1876 the school had become a ‘provided school’ run by a School Board under the Education Act 1870. That meant that, by virtue of section 14(2) of the Act, no ‘religious … Continue reading Habermehl v Attorney General: 1996
The respondent had operated a restaurant through a limited company. The commissioners issued notices of assessments and penalties against the company, now in liquidation, and the defendant, on the basis that the company had consistently under-reported its takings. The commissioners appealed a decision setting aside the notices. The argument was as to whether notices had … Continue reading The Commissioners of Customs And Excise v Bassimeh: CA 20 Nov 1996
A retailer giving a discount was liable for Vat only on the discounted finance price, not on the full retail price. Citations: Times 30-Apr-1996, [1996] STC 757 Jurisdiction: England and Wales Citing: Appeal from – Primback Ltd v Customs and Excise Commissioners QBD 12-Sep-1994 An undisclosed discount for interest free credit given by a retailer … Continue reading Primback Ltd v Commissioners of Customs and Excise: CA 30 Apr 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
Disputes over the running of a private company had been compromised by the plaintiffs’ solicitors. The plaintiffs sought to upset the compromise on the basis that they had been induced by a misrepresentation. The Defendants sought disclosure of privileged documents, particularly those passing between the plaintiffs and their solicitors. Held: Jonathan Parker J discussed the … Continue reading Hayes v Dowding: 1996
(Queensland) Where in his pleadings a party relies upon his state of mind and it would be unfair to permit that party to maintain privilege in respect of communications passing between them and their legal advisers which might bear upon the existence of that state of mind, legal privilege may be lost. Derrington J said: … Continue reading Wardrope v Dunne: 1996
The claimant was the former wife of the deceased. She had been divorced from him 19 years before his death and their matrimonial finances had been settled by a lump sum paid to her as a clean break. There had been no financial relationship between them for the next 19 years, although they had remained … Continue reading Cameron v Treasury Solicitor: 1996
Citations: (1996) 29 HLR 202 Statutes: Housing Act 1988 34(1)(b) Jurisdiction: England and Wales Cited by: Cited – Truro Diocesan Board of Finance Ltd v Foley CA 22-Oct-2008 The tenant appealed against a decision that a deed he had entered into with the claimant did not operate to give him the status of a protected … Continue reading Bolnore Properties Ltd v Cobb: 1996
The plaintiff purchased a book shop. He claimed that in doing so he had relied upon the accounts prepared and signed off by the respective defendants. Held: The judge had been wrong by testing what would have been the true figures as against those prepared when deciding what the plaintiff would have done. In deceit … Continue reading Downs v Chappell; Downs v Stephenson Smart (a Firm): CA 1996
The creditor finance company complained that the customer had paid money into its account with the bank, in order to discharge its obligations by direct debit payments, but that the bank had refused to make the payments. The claimant argued that the direct debit mandate was a mandate in rem suam, and was not dependant … Continue reading Mercedes Benz Finance Ltd v Clydesdale: OHCS 16 Sep 1996
A Life Assurance company’s management expenses were not deductible as quantum of profit. Citations: Times 05-Jul-1996 Statutes: Finance Act (No 2) Act 1992 65 Corporation Tax Updated: 08 April 2022; Ref: scu.82545
An unpaid vendor’s lien was not subordinated to the plaintiff’s charge without clear consent.Millett LJ said: ‘As soon as a binding contract for sale of land is entered into the vendor has a lien on the property for the purchase money and a right to remain in possession of the property until payment is made. … Continue reading Barclays Bank Plc v Estates and Commercial Ltd and Another: CA 20 Mar 1996
An overseas bank may not carry forward a set-off against profits against later loss by overseas bank on loans through UK. Citations: Times 02-Apr-1996 Statutes: Finance Act 1976 50(1) Jurisdiction: England and Wales Corporation Tax, Banking Updated: 08 April 2022; Ref: scu.78488
Builder’s Guarantee Ultra Vires LA The council set out to provide a swimming pool using powers under s.19 of the 1976 Act. Purporting to use powers under s.111 of the 1972 Act, it set up a company to develop a site by building a leisure pool and time-share units, with a view to selling the … Continue reading Credit Suisse v Allerdale Borough Council: CA 20 May 1996
The bank had obtained a judgement against the defendant, and took a charging order. Nothing happened for more than twelve years, and the defendant now argued that the order and debt was discharged. Held: The enforcement of the charging order by normal means is not barred by section 20(1), and unlike the position under a … Continue reading Yorkshire Bank Finance Ltd v Mulhall and Another: CA 24 Oct 2008
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
This unusual arbitration claim seeks to challenge under s.67 or s.68 of the Arbitration Act 1996 (‘the Act’) a Consent Award dated 9 May 2017 by which an LCIA arbitration between the parties, LCIA Ref. 163357 (‘Arbitration 1’), was concluded. Mr Justice Andrew Baker [2021] EWHC 2949 (Comm) Bailii Arbitration Act 1996 67 68 England … Continue reading Minister of Finance (Incorporated) and Another v International Petroleum Investment Company and Another: ComC 4 Nov 2021
HL Income tax, Schedule E – Non-resident employer – Employees working in U.K. sector of North Sea – Whether employer liable to deduct tax from emoluments – Income Tax (Employments) Regulations 1973 – Income and Corporation Taxes Act 1970, s 181 and s 204 – Finance Act 1973, 5 38 – Continental Shelf Act 1964 … Continue reading Clark (Inspector of Taxes) v Oceanic Contractors Inc: HL 16 Dec 1982
The landlords claimed that the tenants remained bound under the lease to occupy and use the premises and pay rent. The tenant said that it had exercised a break option. The landlord said that the break was not exercisable because it had otherwise been in breach of the lease, though that breach had been remedied. … Continue reading Trygort (Number 2) Ltd v UK Home Finance Ltd and Another: SCS 29 Oct 2008
The tenant appealed against a decision that a deed he had entered into with the claimant did not operate to give him the status of a protected or statutory tenancy. Held: The tenant had had a full Rent Act tenancy. The Board claimed possession. There had been a compromise under which he left possession for … Continue reading Truro Diocesan Board of Finance Ltd v Foley: CA 22 Oct 2008
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
The plaintiffs had suceeded in variously establishing claims in deceit and negligence, but now appealed against the finding that no damages had flowed from the wrongs. They had been sold a business on the basis of incorrect figures. Held: Where a plaintiff has been induced to enter into a transaction by a misrepresentation, whether fraudulent … Continue reading Downs and Another v Chappell and Another: CA 3 Apr 1996
The court said that the representation of a litigant in person by a charging non-professional must be only exceptional. Lord Woolf MR, Waite, Waller LJJ Times 01-Jan-1997, [1997] 1 FLR 724, [1996] EWCA Civ 1341, [1997] Fam Law 403, [1997] 2 FCR 217 Bailii Courts and Legal Services Act 1990 17 18 28 England and … Continue reading D v S (Rights of Audience); In re and Application by Dr Pelling: CA 18 Dec 1996
A charging order was made in 1982 to secure pounds 20,000 under a judgment given in 1979. The judgment creditor did not seek to enforce the charging order until almost 12 years had elapsed since the making of the charging order. An order for possession was made so as to enforce the order. The debtor … Continue reading Ezekiel v Orakpo: CA 16 Sep 1996
The parties entered into a written contract for the sale of land which, in error, provided for completion on a Sunday. The parties varied the date to the Friday but did not execute a new contract which would comply with section 2(1) of the 1989 Act. Time was not initially of the essence of the … Continue reading McCausland and Another v Duncan Lawrie Ltd and Another: CA 18 Jun 1996
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FTTTx Income tax – Schedule 13 Finance Act 1996 – loss claimed on disposal of a relevant discounted security – house and cash transferred to family trust and loan note issued to settlor – tax avoidance scheme – . .
LANDFILL TAX – Finance Act 1996, ss 40, 64 – disposal of materials ‘as waste’ – first and last layers of waste selected and laid to avoid damage to cell liner – layer of shredded waste called ‘EVP’ incorporated as a ‘protection layer’ beneath the . .
Landfill tax – first and last layers of waste selected and laid to avoid damage to cell liner – whether ‘disposal with the intention of discarding’ the material and ‘disposal made by way of landfill’ – s 40 Finance Act 1996 – whether use of material . .
Landflill Tax. Citations: [2008] EWCA Civ 849 Links: Bailii Statutes: Finance Act 1996 59 Jurisdiction: England and Wales Taxes – Other Updated: 20 December 2022; Ref: scu.271026
Landfill Tax Citations: [2009] EWCA Civ 1192, [2009] NPC 130, [2010] STC 37, [2009] BTC 8143, [2009] STI 2931 Links: Bailii Statutes: Finance Act 1996 Jurisdiction: England and Wales Taxes – Other Updated: 07 December 2022; Ref: scu.377886
the meaning of ‘relevant discounted securities’ as defined by schedule 13 to the Finance Act 1996 Citations: [2009] EWCA Civ 1010, [2009] STI 2745, [2009] BTC 631 Links: Bailii Jurisdiction: England and Wales Income Tax Updated: 06 December 2022; Ref: scu.375938
Tax Avoidance – Income Tax – Loss Determination On Disposal of Gilt Strips – paragraph 14A Schedule 13 Finance Act 1996 – grant of option to trustee followed by assignment of option to a third party purchaser – whether the concept of ‘loss’ pursuant to para 14A(1) is a ‘commercial’ or ‘legal’ concept – whether … Continue reading Timothy Watts v Revenue and Customs: FTTTx 7 Nov 2022
The appellant challenged a finding that the recycled material it produced was subject to Landfill Tax. The company took waste material. Unrecycleable material was used as landfill, and the tax paid. Other material was recycled, and sold on. The landfill company also bought some of this material for use in road making and landscaping. The … Continue reading Commissioners of Customs and Excise v Parkwood Landfill Limited: CA 28 Nov 2002
FTTTx CORPORATION TAX – loan relationships – debit under paragraph 19A, Schedule 9, Finance Act 1996 in respect of the difference in the accounting value of loan relationships on a change of accounting practice – appellant company changing accounting practice from UK GAAP to IFRS at the 2004 year-end – appellant claiming the debit in … Continue reading Fidex Ltd v Revenue and Customs: FTTTx 2 Apr 2013
The dispute concerns each of the Respondents’ entitlement to set off foreign exchange losses against their liability to corporation tax. The exchanges loss arose as a result of the Respondent companies changing their functional accounting currencies from sterling to US dollars on 23 December 2008 at a time when the only asset on their balance … Continue reading Revenue and Customs v Smith and Nephew Overseas Ltd and Others: CA 3 Mar 2020
INCOME TAX – disposal of gilt strips – determination of loss under paragraph 14A Schedule 13 Finance Act 1996 – whether amount paid by transferee to a person other than the transferor is an ‘amount payable on the transfer’ – yes – profit on transactions arising to trustees of settlement – whether profit should be … Continue reading Andrew v Revenue and Customs (Income Tax/Corporation Tax : Anti-Avoidance): FTTTx 5 Mar 2019
Landfill tax Judges: Lord Justice Peter Gibson, Lord Justice Jonathan Parker And Mr. Justice Laddie Citations: [2004] EWCA Civ 1071 Links: Bailii Statutes: Finance Act 1996 PIII Jurisdiction: England and Wales Citing: Appeal from – Commissioners of Customs and Excise v Ebbcliff Ltd ChD 19-Dec-2003 The Commissioner appealed an exemption awarded to the respondent from … Continue reading Customs and Excise v Ebbcliff Ltd: CA 30 Jul 2004
The fact that waste deposited, was yet capable of being recycled, did not of itself prevent its deposit being subject to landfill tax. The local authority took waste highways material to the respondent’s landfill site. Some was capable of being resold. The tribunal had held that this was not a disposal of the materials as … Continue reading The Commissioners of Customs and Excise v Parkwood Landfill Limited: ChD 29 Jan 2002
FTTTx Income tax – whether a security was a relevant discounted security – security paying on redemption a sum calculated as 7.25% per annum accruing daily – whether ‘interest’ includes sums not paid periodically – yes – appeal dismissed Judges: Mrs B Mosedale TJ Citations: [2011] STI 1990, [2011] SFTD 830, [2011] UKFTT 289 (TC) … Continue reading Pike v Revenue and Customs: FTTTx 4 May 2011
UTTC INCOME TAX – claim for loss on disposal of loan stock – whether loan stock a ‘relevant discounted security’ – FA 1996, Sch 13, para 3 – whether additional payment on redemption of loan stock was interest – yes – appeal dismissed. Judges: Norris J Citations: [2013] UKUT 225 (TCC) Links: Bailii Jurisdiction: England … Continue reading Pike v HM Revenue and Customs: UTTC 10 May 2013
Landfill tax – payment where tax not due – claim for repayment or tax credit – Finance Act 1996 ss51, 54 and Sch 5 para 14 – Landfill Tax Regulations 1996 regs. 14, 20 and 21 – appeal dismissed Citations: [2012] UKFTT 561 (TC) Links: Bailii Jurisdiction: England and Wales Taxes – Other Updated: 19 … Continue reading Harley v Revenue and Customs: FTTTx 5 Sep 2012
The parties anticipated a change in the system for taxing gains on options to buy or sell bonds and government securities. An option would be purchased before the change and exercised after the change to create losses which could be set off against other taxable gains. The risk to the market maker (Citibank) was set … Continue reading Inland Revenue Commissioners v Scottish Provident Institution: HL 25 Nov 2004
Tax Avoidance – Income Tax – Whether or Not A Loss Arose Under Paragraph 2 of Schedule 13 To The Finance Act 1996 On The Acquisition and disposal of relevant discounted securities – held that, on the basis of a purposive construction of the relevant legislation and a realistic view of the facts, no loss … Continue reading Mr Kevin John Pitt v Revenue and Customs: FTTTx 19 Jul 2022
SCIT Loan relationship – release – paragraph 5(3), schedule 9, Finance Act 1996 – effect of covenants in loan agreement – does lender control borrower for purposes of section 87a finance act 1996 – no – amount released brought into charge. Citations: [2008] UKSPC SPC00714, [2008] STI 2674, [2008] STC (SCD) 1245 Links: Bailii Statutes: … Continue reading Fenlo Ltd v Revenue and Customs: SCIT 6 Nov 2008
SCIT Corporation tax – Group of companies – Loan relationship – Novation of liabilities to group company – Whether Appellant as result of related transaction – Replaced as party to loan relationship – Finance Act 1996, Sch 9 para 12 Judges: Wallace SC Citations: [2005] UKSPC SPC00465 Links: Bailii Corporation Tax Updated: 30 June 2022; … Continue reading Greene King No 1 Ltd v HM Inspector of Taxes: SCIT 3 Mar 2005
SCIT INCOME TAX – Anti-Avoidance – Relevant discounted security – Loss on gift to wife – Subscription for security and gift part of scheme to produce loss – Avoidance not the Appellant’s sole purpose in subscribing – Ramsay (1982), Westmoreland (2003) and Arrowtown (2003) considered – FA 1996, Sch 13, para 2 – Appeal allowed … Continue reading Campbell v Inland Revenue Commissioners: SCIT 6 Jul 2004
TAX AVOIDANCE; cross options and collateral loan; whether cross options to be regarded as single composite transaction with no commercial purpose other than tax saving scheme; loan relationships; gilts; debt contract; Finance Act 1994 as amended sections 147-177; Finance Act 1996 sections 80 and 81 Citations: [2001] UKSC SPC00315 Links: Bailii Jurisdiction: England and Wales … Continue reading Scottish Provident Institution v Customs and Excise: SCIT 17 Dec 2001
FTTTX Landfill tax – payment where tax not due – claim for repayment or tax credit – Finance Act 1996 ss51, 54 and Sch 5 para 14 – Landfill Tax Regulations 1996 regs. 14, 20 and 21 – appeal dismissed Citations: [2012] UKFTT 66 (TC) Links: Bailii Statutes: Landfill Tax Regulations 1996 Jurisdiction: England and … Continue reading Harley v Revenue and Customs: FTTTx 20 Jan 2012
Finance Act 1996 Schedule 9 paragraph 13 – whether loans made by the Appellant had an unallowable purpose – equity exchanged for shareholder debt – tax advantage main or one of main purposes- appeal dismissed Citations: [2012] UKFTT 104 (TC) Links: Bailii Jurisdiction: England and Wales Taxes Management Updated: 22 May 2022; Ref: scu.451946
The question of whether waste had been ‘disposed’ of for landfill tax, was wider than simply discarding or depositing. It could include any waste disposal or removal process, and was not limited to the moment at which the waste was deposited. A subsidiary company had bought waste and then deposited it at a landfill site … Continue reading Commissioners of Customs and Excise v Darfish Ltd: QBD 28 Mar 2000
The fact that an interest payment may be aggregated with a payment of a different nature does not ‘denature’ the interest payment Judges: Megarry V-C Citations: [1981] STC 689 Jurisdiction: England and Wales Cited by: Cited – Pike v HM Revenue and Customs CA 20-Jun-2014 The taxpayer challenged rejection of his claim for a loss … Continue reading Chevron Petroleum UK Ltd v BP Petroleum Ltd: ChD 1981
Landfill Tax – Application To Amend Grounds of Appeal – Permission Refused – standard or lower rate of landfill tax – whether the waste comprised qualifying material – Section 42 Finance Act 1996 – Landfill Tax (Qualifying Material) Order 2011 – whether loads contained only a small quantity of non-qualifying material – Section 63 Finance … Continue reading Alab Environmental Services Limited v Revenue and Customs: FTTTx 24 Mar 2022
A farmer obtained a license for landfill. He continued to operate the landfill site, even though he was subject to a stop notice from the local planning department. He was accused of fraudulently evading payment of landfill tax. He claimed that, since the landfill operation was in breach of the stop notice, he was not … Continue reading Regina v Harris: CACD 2 May 2000
This appeal concerns the assessment of liability to corporation tax under the code for taxing ‘loan relationships’ of companies in Chapter II of Part IV of the Finance Act 1996 The Chancellor (Sir Terence Etherton), Patten, Sales LJJ [2016] EWCA Civ 782 Bailii England and Wales Corporation Tax Updated: 20 January 2022; Ref: scu.567825
FTTTx Income Tax/Corporation Tax : Profits – Corporation tax – loan relationships- transfer of contingent debt asset – no profit recognised in accounts – s 84 Finance Act 1996 – ‘fairly represents’ profits – whether accepted accounting method – impact of override in s 84 – held – taxpayer’s accounts GAAP compliant – no alternative … Continue reading GDF Suez Teeside Ltd (Formerly Teeside Power Ltd) v Revenue and Customs: FTTTx 11 Aug 2015
UTTC CORPORATION TAX – company lends money to another group company on terms that shares are paid to a different group company – is the value of the shares income of the lender under the loan relationship rules? – no, but only because of the effect of s. 80(5) of the Finance Act 1996 – … Continue reading Spritebeam Ltd and Others v Revenue and Customs and Others: UTTC 25 Feb 2015
Procedure – appeal against closure notice – reliance on grounds for amendment not stated in closure notice – Tower McCashback considered Corporation tax – loan relationships – application of paragraph 13 Sch9 FA 1996 to debit arising under para19A [2014] UKUT 454 (TCC) Bailii Finance Act 1996 England and Wales Citing: Appeal From – Fidex … Continue reading Fidex Limited v Revenue and Customs: UTTC 13 Nov 2014
The taxpayer challenged rejection of his claim for a loss relief arising from a ‘relevant discounted security’ within the meaning of Schedule 13 to the Finance Act 1996. Held: It would only be such if, taking the security as at the time of its issue, the amount payable on maturity, or on any redemption before … Continue reading Pike v HM Revenue and Customs: CA 20 Jun 2014
Gilt repo – purchase and resale of gilts – interest paid to interim holder not required to be paid to original holder but recognised in repurchase price – application of paragraph 15 Schedule 9 FA 96 – related transaction – effect of section 737A to 737C and 730A TA 88 – effect of section 97 … Continue reading DCC Holdings (UK) Ltd v Revenue and Customs: SCIT 8 May 2007
‘This appeal is concerned with a tax avoidance scheme called Project Zephyr. The object of this scheme was to create a loss of around 84 million Euros in the hands of the appellant (‘Fidex’) which would be available for group relief throughout the BNP Paribas group of companies of which Fidex forms a part.’ Arden, … Continue reading Fidex Ltd v HM Revenue and Customs: CA 21 Apr 2016
The taxpayer had entered into a ‘repo’ loan to its bank, agreeing to purchase a block of gilt edged securities, and to resell them at a later date at a fixed figure. The profit and figures included an allowance for the interest payments to be made. The company now appealed against being refused permission to … Continue reading Revenue and Customs v DCC Holdings (UK) Ltd: SC 15 Dec 2010
UTTC Corporation Tax- whether the profit on loan notes is subject to the charge to corporation tax under the loan relationship rules. Construction of s. 84(2)(a) of and paragraph 12 of Schedule 9 to the Finance . .
The company had entered into an agreement to purchase gilts, and at the same time to resell them at a future date for a fixed sum. In effect they provided a loan against the gilts. It sought to offset the profit against its trading losses.
The court considered the taxation of ‘repo’ transactions. The revenue had charged to tax, an element of interest paid on a block og gilts purchased by the taxpayer company under a resale agreement at a price which allowed for the interest payments . .
