Actual retirement occurred on a cessation even though that retirement had, at first, only been intended to be temporary. Citations: Gazette 05-Jun-1996, Times 26-Apr-1996 Statutes: Taxation of Chargeable Gains Act 1992 163 Jurisdiction: England and Wales Capital Gains Tax Updated: 04 June 2022; Ref: scu.83419
The fact that a retiring company owner also worked in a non-qualifying capacity part-time for somebody else did not make his work for the company less than full time. He was not to be denied retirement tax relief. To hold to the contrary would be to restrict industriousness and was inappropriate. Citations: Gazette 08-Sep-1999, Times … Continue reading Palmer v Shane Moloney and Shipleys (a Firm): CA 26 Jul 1999
The claimant sought damages from the defendants in respect of their advice as chartered accountants on the sale of shares in a private company. He lost the chance to claim retirement relief, by retiring as a director before agreement was reached on the purchase of his shares. The accountants had acted for him in his … Continue reading Joel v Langley and Partners: CA 23 Apr 2002