Husband and wife had been shareholders in a company, the wife being recorded as company secretary. The company paid dividenceds to both. The husband appealed a decision that the payment to his wife was by way of a settlement and was taxable in his hands. Held: The appeal succeeded. ‘there can be no doubt but … Continue reading Jones v Michael Vincent Garnett (HM Inspector of Taxes): CA 15 Dec 2005
SCIT INCOME TAX – Settlement – Company owned by husband and wife – Allotment of shares in company to their minor children on subscription at par – Payment of dividends to children – Whether settlement by virtue or in consequence of which dividends were paid within meaning of Income and Corporation Taxes Act 1988 ss. … Continue reading Bird and Another v Revenue and Customs: SCIT 3 Nov 2008
SCIT SETTLEMENT – Dividend waiver – Income arising under a settlement in which settlor retains interest – Arrangement – Company owned by husband and as to one share by wife – Husband waived dividend in relation to all his 9999 shares – Enhanced dividend consequently paid to wife in respect of her one share – … Continue reading Buck v Revenue and Customs: SCIT 23 Oct 2008
