CAPITAL GAINS TAX – section 222 Taxation of Chargeable Gains Act 1992 – principal private residence relief – whether appellant occupied property – whether property main residence of appellant – appeal dismissed . .

UTTC CGT – s.49 TCGA 1992 – contingent liability – capacity – representation made of a disposal – costs as a contingent liability. . .

Citations: [20Q8] EWCA Civ 858, [2009] Bus LR 629, [2008] BTC 443, [2009] 1 WLR 1349, [2008] STC 3116, [2008] STI 1873 Links: Bailii Statutes: Taxation of Chargeable Gains Act 1992 179(2) Jurisdiction: England and Wales Capital Gains Tax Updated: 20 December 2022; Ref: scu.271035

CAPITAL GAINS TAX – entrepreneurs relief – section 169 whether J Taxation of Chargeable Gains Tax Act 1992 – trust business assets – shares – settlement business assets – whether ‘qualifying beneficiary’ must be a qualifying beneficiary throughout a period of one year ending not earlier than three years before the date of disposal – … Continue reading The Quentin Skinner 2005 Settlement L and Others v Revenue and Customs (Income Tax/Corporation Tax : Entrepreneurs Relief): FTTTx 6 Aug 2019

UTTC CAPITAL GAINS TAX – exchange of shares for debentures – whether TCGA 1992 s 137 applies to each shareholder separately – no – whether Special Commissioner entitled to conclude that the main purpose was tax avoidance – yes – appeal dismissed Judges: Avery Jones CBE Citations: [2010] UKUT 114 (TCC), [2010] STI 2112, [2010] … Continue reading Coll and Coll v HM Revenue and Customs: UTTC 5 Mar 2010

SCIT Capital Gains – Retirement Relief on the grounds of ill-health – incapable of engaging in work of a kind previously undertaken in the business and likely to remain permanently incapable – medical evidence did not support a finding of permanent incapacity – Appeal dismissed (Paragraph 3(1)(b), Schedule 6, Taxation of Chargeable Gains Act 1992). … Continue reading Palmer v HM Inspector of Taxes: SCIT 22 Mar 2005

FTTTx Capital Gains Tax – Gift of property – CGT not paid by donor – Subsequent assessment on donee under s 282 Taxation of Chargeable Gains Act 1992 -Whether subsequent assessment for correct year – No – Appeal allowed Citations: [2011] UKFTT 687 (TC) Links: Bailii Statutes: Taxation of Chargeable Gains Act 1992 282 Jurisdiction: … Continue reading Hamar v Revenue and Customs: FTTTx 28 Oct 2011

Lapsed Currency conversion option lost status The taxpayer appealed his assessment to Capital Gains Tax on his redemption of loan notes arising following the sale of his computer company. He said that they were qualifying corporate bonds. The question was whether a security in which a currency conversion option has lapsed, becomes (as the taxpayer … Continue reading Harding v Revenue and Customs: CA 23 Oct 2008

The company had taken out a loan to finance works on the farm. The loan was guaranted by the taxpayer. Years later when the farm was sold, part of the money was used to repay the loan, and the taxpayer sought to set it off against his liability for Capital Gains Tax. Held: the taxpayer … Continue reading Robson v Mitchell (HM Inspector of Taxes): CA 18 May 2005