Life company’s management expenses were allowable against income under Sch D Case 1, but not allowable on income minus expenses basis. Citations: Times 24-Feb-1998, [1998] EWCA Civ 244 Statutes: Income and Corporation Taxes Act 1988 75 76 Jurisdiction: England and Wales Cited by: Cited – Camas Plc v HM Inspector of Taxes ChD 7-Jul-2003 An … Continue reading Prudential Assurance Company Limited v Johnson (HM Inspector of Taxes): CA 13 Feb 1998
Arrangements in the Acts to allow the revenue authorities to protect their position where payments were to be made overseas, by requiring the withholding of amounts equivalent to the tax payable, went as far as the Act expressly allowed, and no further. There is a substantial gap in such provision. No direction was available where … Continue reading Pardoe (Inspector of Taxes) v Energy Power Development Corporation: ChD 2 Mar 2000
The taxpayer had sources of foreign income. Arrangements were made to take the benefit through the payment of interim dividends, which it intended to use to set off against liability for advance corporation tax. The Commissioner contended that these were a ‘transaction in securities’ Held: The payment of an interim dividend did fall within the … Continue reading Inland Revenue Commissioners v Laird Group plc: CA 30 Apr 2002
The Court was asked whether an employee’s remuneration is taxable as his or her emoluments or earnings when it is paid to a third party in circumstances in which the employee had no prior entitlement to receive it himself or herself. Held: The company’s appeal failed. The purposive approach to the interpretation of the general … Continue reading RFC 2012 Plc (Formerly The Rangers Football Club Plc) v Advocate General for Scotland: SC 5 Jul 2017
The Revenue had published a booklet, IR20, setting out their approach to the interpretation of the phrases ‘residence’ and ‘ordinary residence’. The taxpayer said that this was a more generous definition than the statutory one, and that having acted on it he had a legitimate expectation that the booklet’s interpretation would continue to be applied. … Continue reading Davies and Another, Regina (on The Application of) v Revenue and Customs: SC 19 Oct 2011
The appellants resisted disclosure to the revenue of advice it had received. It claimed legal advice privilege (LAP), though the advice was from its accountants. Held: (Lords Sumption and Clarke dissenting) LAP applies to all communications passing between a client and its lawyers, acting in their professional capacity, in connection with the provision of legal … Continue reading Prudential Plc and Another, Regina (on The Application of) v Special Commissioner of Income Tax and Another: SC 23 Jan 2013
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
A design for sunglasses was challenged for prior publication. However the law in England differed from that apparently imposed from Europe as to the existence of a 12 month period of grace before applying for registration.
Held: Instruments . .
References: [1991] 1 AC 684 Coram: Lord Templeman The taxpayer was transferred from one football club to another. He was paid £75,000 to persuade him to move. The revenue appealed a decision that this was not a sum taxable as an emolument under Schedule E by the new employer. Held: The appeal was allowed. A … Continue reading Shilton v Wilmshurst: HL 1991
References: [2013] UKUT 336 (TCC) Links: Bailii Coram: Birss J UTTC Corporation tax – deductibility of expenditure – sponsorship payments intended to improve fortunes of sports club – expectation of trade benefits principally as a result of recognition by others involved with the club of taxpayer’s benefaction – dual purpose of benefiting sports club and … Continue reading Interfish Ltd v HM Revenue and Customs; UTTC 16 Jul 2013
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