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Inland Revenue Commissioners v George and another: ChD 27 Feb 2003

The company ran a residential homes park. The users owned the caravans, but the taxpayer owned the land. They claimed exemption on a transfer of shares under section 104(1). Held: The company was an investment company with section 105, and so could not claim the benefit of the section 104 exemption. It produced a profitable … Continue reading Inland Revenue Commissioners v George and another: ChD 27 Feb 2003

Weston v Inland Revenue Commissioners: ChD 29 Nov 2000

The taxpayer owned land upon which he ran a caravan park. Income was generated by pitch fees, and from commissions taken from the sales of caravans from one pitch owner to the next. The Commissioners asserted that the income was to be treated as investment income. Income from land is generally investment income, and, on … Continue reading Weston v Inland Revenue Commissioners: ChD 29 Nov 2000