Kirkwood (Inspector of Taxes) v Boland: LT 12 Aug 2002

CAPITAL GAINS TAX – former hotel and rear land – value as at March 1982 – need for comprehensive development – uncertain planning position – rear land subject to lease – value determined at pounds 230,000 – Capital Gains Tax Act 1979, s150

[2002] EWLands TMA – 15 – 2001
Bailii
CAPITAL GAINS TAX – former hotel and rear land – value as at March 1982 – need for comprehensive development – uncertain planning position – rear land subject to lease – value determined at pounds 230,000 – Capital Gains Tax Act 1979 150
England and Wales

Capital Gains Tax

Updated: 27 January 2022; Ref: scu.225715

Dyer v Revenue and Customs: UTTC 2 Sep 2016

UTTC INCOME TAX and CAPITAL GAINS TAX – negligible value claim – TCGA 1992 s 24(2) – whether shares were already of negligible value at acquisition -whether First-tier Tribunal’s affirmative conclusion undermined by its overlooking paragraph of statement of agreed facts – no – finding of negligible value on acquisition fully justified – appeal dismissed

[2016] UKUT 381 (TCC)
Bailii
England and Wales

Income Tax, Capital Gains Tax

Updated: 24 January 2022; Ref: scu.570422

Amin v Revenue and Customs (Capital Gains Tax/Taxation of Chargeable Gains : Exemptions and Reliefs): FTTTx 21 Jul 2016

Capital gains tax – Entrepreneur’s Relief – substituting agreed valuation for initial valuation – transfer of audit clients a disposal of business assets – partial transfer of premises not the same as a part disposal – penalty notice correctly issued as relief wrongly claimed

[2016] UKFTT 515 (TC)
Bailii
England and Wales

Capital Gains Tax

Updated: 20 January 2022; Ref: scu.567957

Godfrey v Revenue and Customs: FTTTx 30 Nov 2010

FTTTX Capital Gains Tax — computation of gain — disposal between husband and wife — section 58 Taxation of Chargeable Gains Act 1992 — taxpayer’s return computed gain on the market value acquisition cost — appeal against closure notice re-computing gain — whether Statement of Account constituted a closure notice — appeal against surcharge — appeal dismissed

[2010] UKFTT 611 (TC)
Bailii
England and Wales

Capital Gains Tax

Updated: 20 January 2022; Ref: scu.567544

HM Revenue and Customs v Mertru: UTTC 30 Jul 2012

Capital gains tax – claim by Respondent for roll-over relief on basis that gain arising on sale of business was wholly in respect of goodwill – HMRC disallowed part of Respondent’s claim on ground that part of consideration for sale was compensation for termination of car dealership – FTT allowed appeal – HMRC appealed on ground that FTT erred in law and reached conclusion not available on facts – appeal allowed

[2012] UKUT 274 (TCC)
Bailii
England and Wales

Capital Gains Tax

Updated: 20 January 2022; Ref: scu.466680

Revenue and Customs v Development Securities Plc and Others: CA 15 Dec 2020

Appeal from finding in tax planning scheme. As to the residence of the scheme: ‘i) The overarching principle is that a company resides for tax purposes where its real business is carried on, and that is where CMC actually abides;
ii) The principle applies in relation to subsidiaries, including special purpose vehicles;
iii) It is the actual place of management, not that in which it ought to be managed, which fixes the residence of a company;
iv) A company may be resident in a jurisdiction other than that of its incorporation not only where a constitutional organ exercises management and control elsewhere, but if the functions of the company’s constitutional organs are usurped, in the sense that management and control is exercised independently of, or without regard to, its constitutional organs, or if an outsider dictates decisions (as opposed to merely proposing, advising and influencing decisions);’

[2020] EWCA Civ 1705
Bailii
England and Wales
Cited by:
CitedTulip Trading Ltd v Bitcoin Association for BSV and Others ChD 5-Jan-2022
Security required for Bitcoin claim
Two applications for security for costs. The claimant claimed against fifteen overseas residents requiring a re-write of cryotocurrency systems so that he could recover sums he said were due to him in respect of Bitcoin assets which he said have . .

Lists of cited by and citing cases may be incomplete.

Capital Gains Tax

Updated: 17 January 2022; Ref: scu.656812

Stayton v Revenue and Customs (Capital Gains Tax – Penalties): FTTTx 18 May 2016

FTTTx CAPITAL GAINS TAX – PENALTIES – application to admit oral witness evidence – residential property acquired with intention of own occupation – never occupied – change of intention – whether property held as an adventure in the nature of a trade or as a capital asset – HMRC amendment to appellant’s return upheld – penalties for failure to notify chargeability and inaccuracy – whether due – two tax-geared penalties in respect of the same tax – TMA s 97A – whether mitigation percentages correct – penalties varied – appeals dismissed

[2016] UKFTT 345 TC
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England and Wales

Capital Gains Tax

Updated: 17 January 2022; Ref: scu.564841

Allen v Revenue and Customs (Capital Gains Tax/Taxation of Chargeable Gains : Exemptions and Reliefs): FTTTx 11 May 2016

FTTTX CAPITAL GAINS TAX – Business Asset Taper Relief – Northern Ireland – Land taken on ‘conacre’ arrangements – Whether occupied by the appellant landowner wholly or mainly for the purposes of husbandry? – Yes – Appeal allowed

[2016] UKFTT 342 TC
Bailii
England and Wales

Capital Gains Tax

Updated: 17 January 2022; Ref: scu.564817

McGuillan and Another v Revenue and Customs (Capital Gains Tax/Taxation of Chargeable Gains : Exemptions and Reliefs): FTTTx 5 May 2016

CAPITAL GAINS TAX – Entrepreneurs’ relief – Definition of ‘personal company (s 169S(3) TCGA) – Definition of ‘ordinary share capital’ (s 989 ITA 2007) – Whether shares with no right to a dividend have ‘a right to a dividend at a fixed rate’

[2016] UKFTT 305 TC
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England and Wales

Capital Gains Tax

Updated: 16 January 2022; Ref: scu.564369

Morrison 2002 Maintenance Trust, The Trustees of and Others v Revenue and Customs (Capital Gains Tax/Taxation of Chargeable Gains : Disposal): FTTTx 13 Apr 2016

FTTTx CAPITAL GAINS TAX – Tax avoidance scheme; trusts; sale of shares; put option; effect of contingencies, whether sale of trust assets to Irish trust under option agreement, subsequent sale for market value and ‘repatriation’ of the trust to Scotland avoids liability to capital gains tax; or whether there is a single composite transaction on which Capital Gains Tax on market value is chargeable; Taxation of Chargeable Gains Act 1992 ss2, 17, 18, 86, 144, 144ZA; appeals dismissed.

[2016] UKFTT 250 (TC)
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England and Wales

Capital Gains Tax

Updated: 14 January 2022; Ref: scu.562868

Mulloy v Revenue and Customs (Capital Gains Tax/Taxation of Chargeable Gains : Computation): FTTTx 13 Apr 2016

FTTTx Capital gains tax – disposal of business by sole trader – extent of costs allowable in computation of gain on disposal of goodwill – costs previously included as revenue expenses in accounts – extent of allowable deduction for expenditure allegedly incurred on provision or enhancement of goodwill disposed of – sections 38 and 39 TCGA considered – appeal dismissed, subject to allowance of pounds 500 of disposal costs omitted from HMRC’s calculations in error

[2016] UKFTT 243 (TC)
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England and Wales

Capital Gains Tax

Updated: 14 January 2022; Ref: scu.562870

Stolkin v Revenue and Customs: FTTTx 15 Dec 2011

Capital Gains Tax – Relationship between Enterprise Investment Scheme relief and taper relief in relation to properties that had been part used for business purposes and part for non-business purposes and properties used for part of the period of ownership for business purposes and part for non-business purposes – Appeal allowed

[2011] UKFTT 831 (TC), [2012] SFTD 541, [2012] STI 223
Bailii
England and Wales

Capital Gains Tax

Updated: 12 January 2022; Ref: scu.450955

Crippin v Revenue and Customs (Capital Gains Tax – Property In Scotland): FTTTx 28 Sep 2021

Property in Scotland – Legal title in taxpayer’s sole name – Property sold to cohabitant – Whether part of dwelling-house that was sole of main residence of taxpayer – Whether cohabitant held beneficial interest in the property – Appeal allowed

[2021] UKFTT 351 (TC)
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England and Wales

Capital Gains Tax

Updated: 12 January 2022; Ref: scu.669753

Patel and Others v Revenue and Customs: FTTTx 9 Feb 2016

Capital Gains Tax/Taxation of Chargeable Gains : Computation – whether expenditure deductible in computing chargeable gain – whether entrepreneurs’ relief available – whether HMRC could issue a discovery assessment – appeal dismissed

[2016] UKFTT 78 (TC)
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England and Wales

Capital Gains Tax

Updated: 10 January 2022; Ref: scu.559937

Gubay v Kington (Inspector of Taxes): HL 26 Jan 1984

Capital gains tax – Disposal from husband to wife – Whether relief governed by condition as to residence of spouses – Whether person resident in U.K. for a year of assessment when so resident for part only of year – Whether relief applied even if one spouse not resident in U.K. – Finance Act 1965, s 45(3) and Sch 7, para 20(1) – Income and Corporation Taxes Act 1970, 5 42(2).

[1984] UKHL TC – 57 – 601, [1984] STC 99, 57 TC 601, [1984] 1 All ER 513, [1984] 1 WLR 163
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England and Wales

Capital Gains Tax

Updated: 10 January 2022; Ref: scu.559848

Berry v Warnett (Inspector of Taxes): HL 6 May 1982

HL Capital gains tax – Settled property – Gift in settlement – Part disposal – Connected persons – Assignment of reversion followed by assignment of life interest – Whether the first assignment was only a part disposal – Finance Act 1965 (c 25), ss 22(2), 22(4), 25(2) and Sch 7, paras 17 and 21; Income and Corporation Taxes Act 1970 (c 10), s 454(3).

[1982] UKHL TC – 55 – 92, 55 TC 92, [1982] 2 All ER 630, [1982] 1 WLR 698, [1982] BTC 239, [1982] STC 396
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England and Wales

Capital Gains Tax

Updated: 10 January 2022; Ref: scu.559775

Marren (Inspector of Taxes) v Ingles: HL 24 Jul 1980

HL Capital gains tax – Disposal of shares – Whether rights to receive deferred payments constituted ‘incorporeal property’ – Whether a disposal of such property on such payments being made – Finance Act 1965 (c 25), ss 22(1) and 22(3).

[1980] UKHL TC – 54 – 76, [1980] STC 500, 54 TC 76, [1980] TR 335, [1980] 1 WLR 983, [1980] 3 All ER 95
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Finance Act 1965 22(1) 22(3)
England and Wales

Capital Gains Tax

Updated: 10 January 2022; Ref: scu.559789

Fountain and Another v Revenue and Customs: FTTTx 24 Aug 2015

FTTTx Capital Gains Tax/Taxation of Chargeable Gains : Exemptions and Reliefs – – principal private residence – move to new house built in grounds of former house – whether building plot within grounds of original house is within garden or grounds of new house – no – appeal dismissed – s222(1) TCGA 1992

[2015] UKFTT 419 (TC)
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England and Wales

Capital Gains Tax

Updated: 03 January 2022; Ref: scu.551536

Ames v Revenue and Customs: FTTTx 7 Jul 2015

FTTTx CAPITAL GAINS TAX – Enterprise Investment Scheme – eligible shares – EIS income tax relief not claimed because income below personal allowance – whether CGT exemption only available if EIS relief claimed – whether the legislation should be interpreted ‘purposively’ on a reverse Ramsay basis -whether the legislation can be ‘read down’ under the Human Rights Act section 3 – HMRC refusal to allow late claim – whether TMA s 118(2) allows a late claim on the basis of reasonable excuse – whether Tribunal has jurisdiction over HMRC’s care and management powers – appeal dismissed.

[2015] UKFTT 337 (TC)
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England and Wales

Capital Gains Tax

Updated: 02 January 2022; Ref: scu.550290

East Allenheads Estate Ltd v Revenue and Customs: FTTTx 30 Jun 2015

FTTTx Capital Gains Tax/Taxation of Chargeable Gains : Exemptions and Reliefs – EIS deferral relief – refusal of HMRC to issue EIS 1 – whether appellant existed wholly for the purpose of carrying on a qualifying trade – whether shares issued in order to raise money for a qualifying business activity – whether share issue proceeds employed wholly for the purpose of the qualifying business activity within the relevant time limits – paragraphs 1(2)(b), (f), (g) and (h) Schedule 5B TCGA – significant amounts expended on improving freehold property used in the business but owned by the shareholder – significant amounts expended on art and antiques to enhance that property – held requirements not satisfied – appeal dismissed

[2015] UKFTT 328 (TC)
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England and Wales

Capital Gains Tax

Updated: 02 January 2022; Ref: scu.550274

Morrison v HM Revenue and Customs: SCS 23 Dec 2014

(Inner House) The House was asked whether the settlement payment of pounds 12 million by the appellant was made for a contingent liability in respect of representations made on a disposal by way of sale of the appellant’s shares in MPLC within the meaning of section 49(1)(c) of the Act, so as to require an adjustment of the appellant’s liability to capital gains tax under section 49(2).

The Lord President
[2014] ScotCS CSIH – 113, 2015 SLT 169, 2015 SC 392, [2015] STC 659, 2015 GWD 2-56, [2015] BTC 1, [2014] CSIH 113
Bailii
Scotland

Capital Gains Tax

Updated: 02 January 2022; Ref: scu.550118

Jefferies and Another v Revenue and Customs: FTTTx 29 Oct 2009

FTTTx CGT – PRIVATE RESIDENCE RELIEF – TAPER RELIEF FOR BUSINESS ASSETS- Appellants disposing of a hotel – capital asset – part business, part non-business use of asset – private residence relief available in relation to non- business gains – yes – were all of remaining gains eligible for business asset taper relief – should remaining gains be re-apportioned into business and non- business gains for taper relief purposes – yes – but just and reasonable apportionment required – all remaining gains eligible for business asset taper relief – Appeal allowed.

[2009] UKFTT 291 (TC)
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England and Wales

Capital Gains Tax

Updated: 02 January 2022; Ref: scu.409078

Leeming v Jones (Inspector of Taxes): HL 1930

The case established the principle that the profit from a single transaction of a purchase and sale of property was taxable only if it amounts to a trade and if not does not fall within Case VI. The making of a profit on an isolated transaction of purchase and resale does not become income merely because the asset was acquired with the intention of selling at an increased value.
Viscount Dunedin said: ‘The limitations of the words ‘profits and gains’ were pointed out by Blackburn J. long ago in the case of Attorney-General v. Black, when he said that profits and gains in Case VI. must mean profits and gains ejusdem generis with the profits and gains specified in the preceding five Cases. And then there came the memorable and often quoted words of Lord Macnaghten in the London County Council case, when he begged to remind people ‘that income tax is a tax on income.’ The only question, therefore, here was – Was there in any sense income?’ and ‘The fact that a man does not mean to hold an investment may be an item of evidence tending to show whether he is carrying on a trade or concern in the nature of trade in respect of his investments, but per se it leads to no conclusion whatever.’
Lord Buckmaster discounted the suggestion that a profit made on the sale of an asset acquired in the expectation that it would rise in value (and presumably result in a realized gain) is income. To him all that was involved in such a case was the realization of a capital asset.

Viscount Dunedin, Lord Buckmaster
[1930] 1 KB 279, [1930] 15 Tax Cas 333, 15 Tax Cas 333, [1930] AC 415
England and Wales
Citing:
CitedInland Revenue Commissioners v Livingston 1927
Lord Clyde said: ‘I think the test, which must be used to determine whether a venture such as we are now considering is or is not, ‘in the nature of trade’, is whether the operations involved in it are of the same kind, and carried on in the same . .

Cited by:
MentionedWisdom v Chamberlain (Inspector of Taxes) CA 8-Nov-1968
The taxpayer, a comic actor, bought silver bullion hoping it would act as a hedge against a possible deflation of the pound. The revenue sought to tax his profits on sale under Schedule D. He argued that the money, being from one transaction, did . .

Lists of cited by and citing cases may be incomplete.

Income Tax, Capital Gains Tax

Updated: 01 January 2022; Ref: scu.235905

Verder Labtec GmbH and Co. KG v Finanzamt Hilden: ECJ 21 May 2015

ECJ Judgment – Reference for a preliminary ruling – Taxation – Freedom of establishment – Article 49 TFEU – Restrictions – Staggered recovery of tax on unrealised capital gains – Preservation of allocation of powers of taxation between Member States – Proportionality

C-657/13, [2015] EUECJ C-657/13, ECLI:EU:C:2015:331
Bailii
European

European, Capital Gains Tax

Updated: 30 December 2021; Ref: scu.547051

Commission v Germany: ECJ 16 Apr 2015

ECJ Judgment – Failure of a Member State to fulfil obligations – Tax legislation -Deferral of taxation of capital gains realised on the sale of certain capital assets – Recovery of the tax – Freedom of establishment – Article 49 TFEU – Article 31 of the EEA Agreement – Difference in treatment between permanent establishments located within the territory of a Member State and permanent establishments located within the territory of another Member State of the European Union or of the European Economic Area – Proportionality

C-591/13, [2015] EUECJ C-591/13, ECLI:EU:C:2015:230
Bailii

European, Capital Gains Tax

Updated: 29 December 2021; Ref: scu.545442

Booth v Revenue and Customs (Capital Gains Tax/Taxation of Chargeable Gains : Disposal): FTTTx 21 Dec 2018

Capital Gains Tax – s 222 Taxation of Capital Gains Act 1992 – discovery assessment of capital gains on sale of residential property and fixed penalty for failure to include the gains in a self-assessment return – whether principal private residence exemption applies – no – appeal dismissed

[2018] UKFTT 770 (TC)
Bailii
England and Wales

Capital Gains Tax

Updated: 28 December 2021; Ref: scu.632433

Skye Inns Ltd and Another v Revenue and Customs: FTTTx 15 Dec 2009

Capital gains tax – relief under Enterprise Investment Scheme – whether 80% of the share capital subscribed had been ’employed’ in the qualifying company’s trade within the twelve month period from the subscription – monies on instant access deposit account – consideration of different business requirements – appeal dismissed

[2009] UKFTT 366 (TC)
Bailii
England and Wales

Capital Gains Tax

Updated: 23 December 2021; Ref: scu.409172

Blaney v Revenue and Customs: FTTTx 4 Nov 2014

FTTTx CAPITAL GAINS TAX – taper relief – para 5(1A) Schedule A1 TCGA 1992 – whether asset disposed of was a business asset – use of land for horse breeding – whether a trade – whether HMRC bound by previous decision to allow relief for trading losses – appeal dismisse

[2014] UKFTT 1001 (TC)
Bailii
England and Wales

Capital Gains Tax

Updated: 23 December 2021; Ref: scu.539007

Trigg v Revenue and Customs: FTTTx 20 Oct 2014

FTTTx CAPITAL GAINS TAX – whether a bond a QCB – bond had provision for conversion to euro if UK joined monetary union – bond a QCB

[2014] UKFTT 967 (TC)
Bailii
England and Wales
Cited by:
Appeal fromRevenue and Customs v Trigg (A Partner of Tonnant Llp) UTTC 2-Apr-2016
UTTC CAPITAL GAINS TAX – qualifying corporate bonds (QCBs) – whether provisions in bond instruments for redenomination of sterling bonds to euros (or another currency) on adoption by the UK of the euro (or other . .

Lists of cited by and citing cases may be incomplete.

Capital Gains Tax

Updated: 23 December 2021; Ref: scu.539003

Harding v HM Revenue and Customs: ChD 30 Jan 2008

In section 117 the word ‘security’ identified an asset in the nature of an investment. It was used as meaning something distinct from the debt on it referred to in section 117(1)(a), but it was not simply a reference to the document which evidenced the debt.

Briggs J
[2008] EWHC 99 (Ch), [2008] STC 1865
Bailii
Taxation of Chargeable Gains Act 1992 117
England and Wales
Citing:
Appeal fromHarding v Revenue and Customs SCIT 15-Mar-2007
SCIT Capital Gains Tax – qualifying corporate bonds (QCBs) – shares exchanged for loan notes with foreign currency redemption option – section 135 TCGA applying to exchange – loan notes not QCBs on exchange – . .

Cited by:
Appeal fromHarding v Revenue and Customs CA 23-Oct-2008
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 . .

Lists of cited by and citing cases may be incomplete.

Capital Gains Tax

Updated: 23 December 2021; Ref: scu.264024

Abacus Trust Company (Isle of Man) Ltd and Another v National Society for the Prevention of Cruelty to Children: ChD 17 Jul 2001

The claimants were beneficiaries, trustee and protector of a trust fund. In order to mitigate Capital Gains Tax liability they sought advice, and, following that advice, entered into a deed of gift in favour of the respondent charity. The deed needed to be dated in the new tax year, but was dated for the previous year. They sought a declaration that the deed was void ab initio, the directors having failed to address a relevant consideration.
Held: The declaration was granted. The matters which could, if present, be taken into account, can include factors which might vitiate the intended legal effect of the deed, including the fiscal effect. It was unrealistic to divorce the several steps from each other. Trustees must consider the fiscal consequences of their acts, and a failure to do so was capable of leading to the application of ‘the Rule in Hastings-Bass’.

Potter J
Gazette 13-Sep-2001, Times 25-Sep-2001, [2001] EWHC B2 (Ch), [2001] STI 1225, [2001] STC 1344, [2001] WTLR 953, [2002] BTC 178, (2000-01) 3 ITELR 846
Bailii
England and Wales
Citing:
CitedRe Hastings-Bass; Hastings v Inland Revenue CA 14-Mar-1974
Trustees of a settlement had exercised their power of advancement under the section, in order to save estate duty by transferring investments to be held on the trusts of a later settlement. However the actual effect of the advancement was that the . .
appliedGreen v Cobham ChD 19-Jan-2000
cw The Trustees had overlooked the fact that a Will Trust and two sub-settlements together constituted a single composite settlement for the purposes of CGT with a single body of trustees. As a result of his . .

Cited by:
AppliedBurrell and Sharman v Burrell, Shore, Tyrrell, etc ChD 23-Feb-2005
burrell_burrellChD05
Shares were appointed by trustees in the mistaken belief that they attracted business property relief from Inheritance tax. They sought to set aside the appointment.
Held: Mann J applied the rule in Stannard v Fisons Pensions Trust and . .
CitedFutter and Another v Futter and Others ChD 11-Mar-2010
Various family settlements had been created. The trustees wished to use the rule in Hastings-Bass to re-open decisions they had made after receiving incorrect advice.
Held: The deeds were set aside as void. The Rule in Hastings-Bass derives . .

Lists of cited by and citing cases may be incomplete.

Trusts, Capital Gains Tax

Updated: 23 December 2021; Ref: scu.163314

Oates v Revenue and Customs: UTLC 16 Sep 2014

TAX – capital gains tax – apportionment – ‘just and reasonable’ – marriage value – existing use value of constituent parts – formula in VOA manual – alternative marriage value approach – appeal allowed – Section 222, Taxation of Chargeable Gains Act 1992

[2014] UKUT 409 (LC)
Bailii
Taxation of Chargeable Gains Act 1992 222
England and Wales

Capital Gains Tax

Updated: 22 December 2021; Ref: scu.538016

Chinn v Hochstrasser (Inspector of Taxes): HL 11 Dec 1980

The House considered the meaning of the word ‘bounty’ in an income tax context, where it had been used by the courts: ‘My Lords, I would venture to point out that the word ‘bounty’ appears nowhere in the statute. It is a judicial gloss upon the statute descriptive of those classes of cases which are caught by the section in contrast to those which are not. The courts must, I think, be extremely careful not to interpret this descriptive word too rigidly . . What the cases have sought to do is to distinguish between those cases where the recipient has in return for that benefit which he has received accepted some obligation which he has to perform, either before receiving the benefit or at some stated time thereafter, and those cases where the recipient benefits without any assumption by him of any correlative obligation.’
HL Capital gains tax – Avoidance – Foreign trustees – Appointment to beneficiary of interest in shares contingent on survivalfor three days – Immediate sale by him to foreign company coupled with contract to repurchase shares on fourth day – Whether scheme effective to avoid apportionment of gain to beneficiary – Finance Act 1965 (c 25), ss 25(3) and 42(2) and Sch 7, para 13(1).
The House was considering whether an emolument could be said to arise ‘from’ a taxpayer’s employment or office, Lord Radcliffe cited various judicial statements and stated: ‘These are all glosses, and they are all of value as illustrating the idea which is expressed by the words of the statute. But it is perhaps worth observing that they do not displace those words’.

Lord Roskill, Lord Radcliffe
[1981] 1 All ER 189, [1981] AC 533, [1980] UKHL TC – 54 – 311, [1981] 2 WLR 14, 54 TC 311, [1980] TR 467, [1981] STC 1
Bailii
Finance Act 1965 25(3) 42(2)
England and Wales
Citing:
CitedInland Revenue Commissioners v Plummer HL 1-Nov-1979
Although transactions were integrated as part of a preconceived scheme which was commercially marketed and that had no other conceivable purpose than that of saving surtax, the construction of the statute compelled the acceptance of a fiscal result . .

Cited by:
AppliedW T Ramsay Ltd v Inland Revenue Commissioners HL 12-Mar-1981
The taxpayers used schemes to create allowable losses, and now appealed assessment to tax. The schemes involved a series of transactions none of which were a sham, but which had the effect of cancelling each other out.
Held: If the true nature . .
CitedJones v Michael Vincent Garnett (HM Inspector of Taxes) CA 15-Dec-2005
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 . .
CitedButler v Wildin 1988
Two brothers acquired a company and were the sole directors. 19 shares each were acquired by the children with their own money. Two later born children also acquired 19 shares therein with their own money from their respective fathers and others, . .
CitedJones v Garnett (Her Majesty’s Inspector of Taxes) HL 25-Jul-2007
The husband and wife had each owned a share in a company which sold the services of the husband. The Revenue claimed that the payment of dividends to the wife was a settlement.
Held: The Revenue failed. The share had been transferred to the . .
CitedShop Direct Group v Revenue and Customs SC 17-Feb-2016
The Court considered the interpretation of the sections which applied corporation tax to post-cessation receipts. Companies had received from the Inland Revenue substantial repayments of VAT together with interest. There had been reorganisations of . .
CitedRFC 2012 Plc (Formerly The Rangers Football Club Plc) v Advocate General for Scotland SC 5-Jul-2017
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 . .

Lists of cited by and citing cases may be incomplete.

Taxes Management, Income Tax, Capital Gains Tax

Updated: 21 December 2021; Ref: scu.559790

Drown and Another (As Executors of Leadley Deceased) v Revenue and Customs: FTTTx 11 Sep 2014

FTTTx INCOME TAX AND CAPITAL GAINS TAX – negligible value claims made by executors in respect of period before deceased’s death – whether claims could be made by executors – purposive interpretation of relevant legislation – appeal allowed in so far as claim used against income and gains arising in lifetime of decease

[2014] UKFTT 892 (TC)
Bailii
England and Wales

Income Tax, Capital Gains Tax

Updated: 21 December 2021; Ref: scu.536741

Hancock and Hancock v Commissioners for Inland Revenue and Customs: FTTTx 21 Jul 2014

FTTTx Capital gains tax – redemption of qualifying corporate bonds (QCBs) – scheme to avoid the application of s 116, TCGA to a conversion of non-QCBs into QCBs – s 116(1)(b) – whether a single conversion of non-QCBs and QCBs into QCBs or two separate conversions – whether the conversion and redemption should be treated as a single composite transaction of the disposal/redemption of non-QCBs – the Ramsay principle

Robert Berner TJ
[2014] UKFTT 695 (TC)
Bailii

Capital Gains Tax

Updated: 17 December 2021; Ref: scu.535144

National Grid Indus v Inspecteur van de Rijnmond Belastingdienst / kantoor Rotterdam: ECJ 29 Nov 2011

ECJ Grand Chamber – Transfer of a company’s place of effective management to a Member State other than that in which it is incorporated – Freedom of establishment – Article 49 TFEU – Taxation of unrealised capital gains relating to the assets of a company transferring its place of management between Member States – Determination of the amount of tax at the time of the transfer of the place of management – Immediate recovery of the tax – Proportionality

A. Tizzano, P
[2011] EUECJ C-371/10
Bailii
Citing:
OpinionNational Grid Indus v Inspecteur van de Rijnmond Belastingdienst / kantoor Rotterdam ECJ 8-Sep-2011
ECJ Opinion – Freedom of establishment – Companies – Exit taxation for companies that move their headquarters to another Member State – Establishment and taxation of hidden reserves – unrealized foreign exchange . .

Lists of cited by and citing cases may be incomplete.

European, Company, Capital Gains Tax

Updated: 17 December 2021; Ref: scu.534457

Rotberg v Revenue and Customs: FTTTx 7 Jul 2014

FTTTx CAPITAL GAINS TAX – assessment made outside ordinary time limit – s 36(1) TMA – whether loss of capital gains tax attributable to negligent conduct of taxpayer or a person acting on her behalf
JURISDICTION – whether First-tier Tribunal has jurisdiction to consider legitimate expectation and other public law arguments – construction of s 50(6) TMA
LEGITIMATE EXPECTATION – whether appellant had a legitimate expectation as a consequence of representations of HMRC either (i) that relief would apply to a gain on certain share disposals, and (ii) that no other reliefs would be available, at a time when a claim for EIS relief could have been made for a particular tax year

[2014] UKFTT 657 (TC)
Bailii

Capital Gains Tax

Updated: 17 December 2021; Ref: scu.534282

Hegarty and Another v Revenue and Customs: FTTTx 27 Dec 2018

Capital Gains Tax/Taxation of Chargeable Gains : Other – disposals of (a) a piece of land with dwelling to connected person and (b) another contiguous piece to developer – Code of Practice 9 investigation into returns for 2006-07 and 2007-08 on basis that (a) land disposal not returned and (b) that business assets taper relief may have been wrongly claimed – Schedule 36 notice issued and reissued – HMRC withdrawing case before appeal hearing – further notice with fewer requirements issued three months after withdrawal – whether res judicata applies – whether abuse of process -whether Condition B in paragraph 21 Schedule 36 (officer had reason to suspect loss of tax) met where no evidence from officer – whether decisions about s 20 TMA that there must be a sensible or reasonable prospect of HMRC making a valid discovery assessment applicable to Schedule 36 notices.

[2018] UKFTT 774 (TC)
Bailii
England and Wales

Capital Gains Tax

Updated: 13 December 2021; Ref: scu.632450

Schuldenfrei v Hilton (Inspector of Taxes): ChD 25 Feb 1998

A taxpayer’s inactive acquiescence in an inspector’s mistaken acceptance did not create an agreement which could restrain correction of the error.

Times 25-Feb-1998
Taxes Management Act 1970 54
England and Wales
Citing:
Appealed toSchuldenfrei v Hilton (Her Majesty’s Inspector of Taxes) CA 16-Jul-1999
Where an inspector issued an assessment to tax, but mistakenly completed it to say that no tax was payable, and the taxpayer did nothing to indicate reliance upon it, there was no agreement between the taxpayer and the inspector such as would . .

Cited by:
Appeal fromSchuldenfrei v Hilton (Her Majesty’s Inspector of Taxes) CA 16-Jul-1999
Where an inspector issued an assessment to tax, but mistakenly completed it to say that no tax was payable, and the taxpayer did nothing to indicate reliance upon it, there was no agreement between the taxpayer and the inspector such as would . .

Lists of cited by and citing cases may be incomplete.

Capital Gains Tax, Taxes Management

Updated: 13 December 2021; Ref: scu.89052

Wardhaugh (Inspector of Taxes) v Penrith Rugby Union Football Club: ChD 10 May 2002

The taxpayer had accepted a grant toward the building of a new club house. They sought rollover relief on the proceeds of sale of the former club house. The inspector sought to restrict the claim to exclude the benefit of the grant.
Held: The grant was not to be taken into account. Section 50 did not apply to reduce the allowance claimed under section 152. Nothing in either section referred to the other so as to establish a link, and the case of Watton established that there was none.

Mr Justice Ferris
Times 29-May-2002, Gazette 13-Jun-2002
Taxation of Chargeable Gains Act 1992 50 152
England and Wales
Citing:
CitedWatton (Inspector of Taxes) v Tippett CA 27-Jun-1997
Proceeds of the sale of part of a business which had been invested back into the business cannot be rolled over into the acquisition cost of remainder. . .

Lists of cited by and citing cases may be incomplete.

Capital Gains Tax

Updated: 11 December 2021; Ref: scu.171304

Bayliss v Revenue and Customs (Capital Gains Tax/Taxation of Chargeable Gains : Computation): FTTTx 14 Jul 2016

Capital gains tax – self assessment- penalty under s 95(1) Taxes Management Act 1970- whether incorrect return delivered fraudulently or negligently- reliance on advice as to effectiveness of capital loss generation scheme involving contracts for differences

[2016] UKFTT 500 (TC), [2017] SFTD 370, [2016] STI 2687
Bailii
England and Wales

Capital Gains Tax

Updated: 10 December 2021; Ref: scu.567686

Wildin v Revenue and Customs: FTTTx 14 May 2014

FTTTx CGT – valuation of goodwill in accounting practice -March 1982 deemed disposal valuation – calculation by reference to ‘client book’ or ‘whole practice’ taking account of net assets – market valuation – valuation on sale in 2003 – consistency of approach – valuation method to be used – multiple to be applied – held – ‘client book’ accepted as most appropriate valuation method for accountancy firms – multiples for 1982 and 2003 adjusted- appeal allowed in part.

[2014] UKFTT 459 (TC)
Bailii

Capital Gains Tax

Updated: 05 December 2021; Ref: scu.526895

Chakravorty v Revenue and Customs: UTLC 30 Apr 2014

TAX – capital gains tax – residential premises – leasehold – value at 31 March 1982 – comparables – marriage value – share of undivided beneficial interest – value of leasehold interest determined at pounds 3,164 – appeal allowed in part

[2014] UKUT 184 (LC)
Bailii
England and Wales

Capital Gains Tax

Updated: 03 December 2021; Ref: scu.525944

Revenue and Customs v Stolkin: UTTC 9 Apr 2014

UTTC Capital Gains Tax – Relationship between Enterprise Investment Scheme relief and Taper Relief in relation to properties that had been used for both business and nonbusiness purposes, either concurrently or at different times, in the period of ownership by the taxpayer – Appeal allowed

[2014] UKUT 165 (TCC)
Bailii
England and Wales

Capital Gains Tax

Updated: 03 December 2021; Ref: scu.525887

Collins v Revenue and Customs: FTTTx 19 Mar 2014

FTTTx CAPITAL GAINS TAX – INCOME TAX – application for an extension of time for the making of an appeal to the Tribunal – balancing exercise undertaken – O’Flaherty v HMRC [2013] UKUT 161 (TC) and HMRC v McCarthy and Stone (Developments) Ltd considered – Tribunal’s discretion exercised to refuse an extension in the light of the overriding objective of the Tribunal’s rules

[2014] UKFTT 274 (TC)
Bailii

Capital Gains Tax, Income Tax

Updated: 03 December 2021; Ref: scu.525254

Gater v Revenue and Customs: FTTTx 21 Jun 2018

Capital Gains Tax/Taxation of Chargeable Gains – non-resident CGT return – penalties of pounds 1,300 for failure to file return within 30 days of completion of house sale – whether HMRC have shown penalty due: yes – whether fact that residence status in year of disposal not yet ascertained relevant: no – s 12ZJ TMA applies – whether reliance on third party reasonable excuse: yes – whether ignorance of law reasonable excuse: yes, following Perrin in Upper Tribunal – whether paragraph 4 daily penalties purportedly withdrawn remain outstanding – appeal allowed against all penalties, including daily penalties.

[2018] UKFTT 455 (TC)
Bailii
England and Wales

Capital Gains Tax

Updated: 03 December 2021; Ref: scu.622362

JM Williams (Trustee In Bankruptcy for RWG Denny) v Revenue and Customs: FTTTx 10 Feb 2014

FTTTx INCOME AND CAPITAL GAINS TAX – decision of tribunal in principle – hearing adjourned for parties to determine figures – subsequent allegations by appellant that tribunal misled by HMRC’s witness – whether misleading evidence – jurisdiction – quantification of income and capital gains tax due – whether jurisdiction to consider interest calculation and charge – relevance to calculation of penalties of settlement offer made by appellant –

[2014] UKFTT 200 (TC)
Bailii
England and Wales

Income Tax, Capital Gains Tax

Updated: 30 November 2021; Ref: scu.521791

W T Ramsay Ltd v Inland Revenue Commissioners: HL 12 Mar 1981

The taxpayers used schemes to create allowable losses, and now appealed assessment to tax. The schemes involved a series of transactions none of which were a sham, but which had the effect of cancelling each other out.
Held: If the true nature of the transactions could be seen by looking at them all together, then that should be done. If the composite transaction produced neither a gain nor a loss, it was a nullity. The schemes should be ignored as artificial and fiscally ineffective. The language of a taxing statute will often have to be given a wide practical meaning to allow the court to have regard to the whole of a series of transactions which were intended to have a commercial unity. Lord Wilberforce (on the interpretation of taxation statutes) ‘What are ‘clear words’ is to be ascertained upon normal principles: these do not confine the courts to literal interpretation. There may, indeed should, be considered the context and scheme of the relevant Act as a whole, and its purpose may, indeed should, be regarded.’ As to the construction of composite transactions: ‘It is the task of the court to ascertain the legal nature of any transaction to which it is sought to attach a tax or a tax consequence and if that emerges from a series or combination of transactions, intended to operate as such, it is that series or combination which may be regarded.’ and ‘The capital gains tax was created to operate in the real world, not that of make-belief . . . To say that a loss (or gain) which appears to arise at one stage in an indivisible process, and which is intended to be and is cancelled out by a later stage, so that at the end of what was bought as, and planned as, a single continuous operation, there is not such a loss (or gain) as the legislation is dealing with, is in my opinion well and indeed essentially within the judicial function.’

Wilberforce, Fraser of Tullybelton, Russell of Killowen, Roskill, Bridge of Harwich LL
[1981] 1 All ER 865, [1982] AC 300, [1981] UKHL 1, [1981] STC 174
Bailii
England and Wales
Citing:
AppliedChinn v Hochstrasser (Inspector of Taxes) HL 11-Dec-1980
The House considered the meaning of the word ‘bounty’ in an income tax context, where it had been used by the courts: ‘My Lords, I would venture to point out that the word ‘bounty’ appears nowhere in the statute. It is a judicial gloss upon the . .
AppliedInland Revenue Commissioners v Plummer HL 1-Nov-1979
Although transactions were integrated as part of a preconceived scheme which was commercially marketed and that had no other conceivable purpose than that of saving surtax, the construction of the statute compelled the acceptance of a fiscal result . .
CitedInland Revenue Commissioners v Duke of Westminster HL 7-May-1935
The Duke’s gardener was paid weekly, but to reduce tax, his solicitors drew up a deed in which it was said that the earnings were not really wages, but were an annual payment payable by weekly instalments.
Held: To find out what the true . .

Cited by:
AppliedMoodie v Inland Revenue Commissioners and Another and similar HL 7-Apr-1993
A scheme was devised to sell annuities to charities. They then used the capital sum paid to purchase promissory notes from the charity, which were in turn used to secure annuity payments.
Held: The scheme was entirely self cancelling and void. . .
CitedGriffin v Citibank Investments Ltd ChD 14-Nov-2000
Where there existed properly constituted documents recording a contract, the court could not go behind them to discover the real transaction. The rules in Ramsay is not a special set of principles restricted to issues in determining the legal effect . .
CitedDTE Financial Services Ltd v Wilson (Inspector of Taxes) CA 24-May-2001
A scheme by which an employer paid bonuses to senior staff by purchasing contingent reversionary interests in an overseas trust, and then assigning them to the staff without admitting liability for income tax or national insurance contributions when . .
CitedMcNiven (Inspector of Taxes) v Westmoreland Investments Ltd CA 26-Oct-1998
Cross loans were made between an investment company and pension schemes. The overall effect was to create payments which could be set off against Corporation Tax. They were not a pre-ordained series of transactions where the underlying loans were . .
CitedBarclays Mercantile Business Finance Ltd v Mawson (Inspector of Taxes) ChD 22-Jul-2002
The taxpayer sought to claim for capital allowances of andpound;91 million for gas pipelines. The claimant had provided the equipment through a leasing scheme.
Held: The leases were unusual, but did not appear to be merely part of a tax . .
CitedMacDonald (Inspector of Taxes) v Dextra Accessories Ltd and Others ChD 16-Apr-2003
The inspector sought to disallow charging to current tax period payments made by the employer to an employee benefit trust.
Held: The payments were not made and held by the trustees ‘with a view to becoming relevant emoluments’ within the . .
ExplainedMacNiven (Inspector of Taxes) v Westmoreland Investments Ltd HL 15-Feb-2001
The fact that a payment of interest was made only to create a tax advantage did not prevent its being properly claimed. Interest was paid for the purposes of setting it against tax, when the debt was discharged. A company with substantial losses had . .
CitedEnsign Tankers (Leasing) Ltd v Stokes (Inspector of Taxes) HL 6-May-1992
The appellants entered into partnerships with a film production company. By doing so they intended to make available to themselves first year allowances on the capital expenditure incurred. Loan agreements protected them from any eventual loss.
CitedBMBF (No 24) Limited v the Commissioners of Inland Revenue CA 6-Nov-2003
The taxpayer, a non-resident, operated a sale and lease back scheme of machinery to be used in its business within the UK. There had been a chain of leases.
Held: The court had first to identify the ‘relevant lease’. It was the head lease . .
CitedCommissioner of Inland Revenue v Auckland Harbour Board PC 24-Jan-2001
PC (New Zealand) The respondent had created two trusts. The issue was how their income was to be treated for income tax.
Held: They had received no consideration. It was said that the transfers had been . .
CitedCraven v White HL 1988
The inland revenue claimed that several transactions had been arranged for the predominant purpose of obtaining a tax advantage, and that accordingly they should be disregarded. Lord Oliver: ‘[T]he transactions which, in each appeal, the Inland . .
CitedInland Revenue Commissioners v Scottish Provident Institution HL 25-Nov-2004
The parties anticipated a change in the system for taxing gains on options to buy or sell bonds and government securities. An option would be purchased before the change and exercised after the change to create losses which could be set off against . .
CitedCommissioners of Inland Revenue v McGuckian HL 21-May-1997
Steps which had been inserted into a commercial transaction, but which had no purpose other than the saving of tax are to be disregarded when assessing the tax effect of the scheme. The modern approach to statutory construction is to have regard to . .
CitedBarclays Mercantile Business Finance Ltd v Mawson (HM Inspector of Taxes) HL 25-Nov-2004
The company had paid substantial sums out in establishing a gas pipeline, and claimed those sums against its tax as capital allowances. The transaction involved a sale and leaseback arrangement which the special commissioners had found to be a . .
ExplainedInland Revenue v Burmah Oil Co Ltd HL 1982
A series of circular payments which left the taxpayer company in exactly the same financial position as before was not regarded as giving rise to a ‘loss’ within the meaning of the legislation. The ratio of the Ramsay decision was that a loss which . .
RestatedCollector of Stamp Revenue v Arrowtown Assets Ltd 4-Dec-2003
(Hong Kong Final Court of Appeal) The court was asked as to the accounting treatment of interests incurred in the development for the purpose of generating the profits, and therefore whether the relevant Ordinance prohibited the capitalisation of . .
ExtendedFurniss (Inspector of Taxes) v Dawson HL 9-Feb-1983
The transfer of shares to a subsidiary as part of a planned scheme immediately to transfer them to an outside purchaser was regarded as a taxable disposition to the outside purchaser rather than an exempt transfer to a group company. In defined . .
CitedIngram and Palmer-Tomkinson (Executors of the Estate of Lady Jane Lindsay Morgan Ingram Deceased) v Commissioners of Inland Revenue CA 28-Jul-1997
The deceased had first conveyed property to her solicitor. Leases back were then created in her favour, and then the freeholds were conveyed at her direction to her children and grandchildren. They were potentially exempt transfers.
Held: . .
CitedIngram and Another v Commissioners of Inland Revenue HL 10-Dec-1998
To protect her estate from Inheritance Tax, the deceased gave land to her solicitor, but then took back a lease. The solicitor then conveyed the land on freehold on to members of her family.
Held: The lease-back by the nominee was not void as . .
CitedGreenalls Management Ltd v Customs and Excise HL 12-May-2005
Volumes of vodka were transferred from a secure warehouse to a carrier for export. They were diverted, and not exported and the Customs sought the unpaid duty from the warehouse. The Directive provided that duty was payable on the ‘release for . .
CitedBelvedere Court Management Ltd v Frogmore Developments Ltd CA 24-Oct-1995
Landlords had sold flats to Frogmore without serving a section 5 notice under the 1987 Act. Prior to receipt of a purchase notice, Frogmore granted certain leases in the block of flats to another party.
Held: The agreements were upheld, and . .
CitedTotal Network Sl v Revenue and Customs HL 12-Mar-2008
The House was asked whether an action for unlawful means conspiracy was available against a participant in a missing trader intra-community, or carousel, fraud. The company appealed a finding of liability saying that the VAT Act and Regulations . .
CitedHarding v Revenue and Customs CA 23-Oct-2008
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 . .
CitedScottish Widows Plc v Revenue and Customs SC 6-Jul-2011
The taxpayer insurance company had transferred sums from accounts designated as Capital Reserves. The Revenue said that these were properly part of the profit and loss accounts for the respective tax years, and chargeable receipts.
Held: The . .
CitedCampbell v Inland Revenue Commissioners SCIT 6-Jul-2004
SCIT INCOME TAX – Anti-Avoidance – Relevant discounted security – Loss on gift to wife – Subscription for security and gift part of scheme to produce loss – Avoidance not the Appellant’s sole purpose in . .
CitedCraven (IOT) v White (Stephen); Inland Revenue Commissioners v Bowater Property Developments HL 1989
In Craven, the taxpayers owned shares in Q Ltd. In early 1976 they began to negotiate with C Ltd for a merger of the two companies and steps were taken to establish an Isle of Man holding company to act as a vehicle for the taxpayers’ shares should . .
CitedJohn Mander Pension Trustees Ltd v Revenue and Customs SC 29-Jul-2015
The pension scheme had been approved, but that approval later withdraw. HMRC issued assessment for the years in which it had been approved. The taxpayer argued that such assessments applied to the date with effect from which the approval is . .
CitedShop Direct Group v Revenue and Customs SC 17-Feb-2016
The Court considered the interpretation of the sections which applied corporation tax to post-cessation receipts. Companies had received from the Inland Revenue substantial repayments of VAT together with interest. There had been reorganisations of . .
CitedUBS Ag and Another v Revenue and Customs SC 9-Mar-2016
UBS AG devised an employee bonus scheme to take advantage of the provisions of Chapter 2 of the 2003 Act, with the sole purpose other than tax avoidance, and such consequential advantages as would flow from tax avoidance. Several pre-ordained steps . .
CitedRFC 2012 Plc (Formerly The Rangers Football Club Plc) v Advocate General for Scotland SC 5-Jul-2017
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 . .
CitedS Franses Limited v The Cavendish Hotel (London) Ltd SC 5-Dec-2018
The question which arises on this appeal is whether it is open to the landlord to oppose the grant of a new business tenancy if the works which he says that he intends to carry out have no purpose other than to get rid of the tenant and would not be . .

Lists of cited by and citing cases may be incomplete.

Capital Gains Tax, Taxes Management

Leading Case

Updated: 29 November 2021; Ref: scu.181330

Weston v Revenue and Customs: FTTTx 16 Dec 2013

FTTTx CAPITAL GAINS TAX – negligible value claim – asset a certificate of deposit denominated in sterling in an overseas bank which accounted in US dollars – the bank went into administration and later liquidation and was the subject of a complaint by the Securities and Exchange Commission alleging fraud – whether asset was a debt denominated in sterling – held it was – whether the appellant’s claim in the liquidation in respect of the CD was a separate asset for CGT purposes – held it was not – appeal dismissed

[2014] UKFTT 11 (TC)
Bailii

Capital Gains Tax

Updated: 28 November 2021; Ref: scu.519585

Snell v Revenue and Customs: SCIT 5 Apr 2006

CAPITAL GAINS TAX – exchange of shares for loan stock – TCGA 1993 s 137 – whether the exchange was effected for bona fide commercial reasons – yes -whether one of the main purposes of the scheme or arrangements including the exchange was avoidance of capital gains tax – yes – appeal dismissed

[2006] UKSPC SPC00532
Bailii
England and Wales

Capital Gains Tax

Updated: 28 November 2021; Ref: scu.241239

Harvey’s Jersey Cream Ltd v Revenue and Customs: FTTTx 14 Nov 2013

FTTTx CGT – EIS – proceeds of share subscription invested in partnership of which company already a member and paid out to other partners – whether monies raised for the purpose of, or employed in a qualifying business activity – para 1(2)(f) and (g) Sch 5B TCGA 1992.
Held: no.

[2013] UKFTT 663 (TC)
Bailii

Capital Gains Tax

Updated: 26 November 2021; Ref: scu.518612

Dickinson v Revenue and Customs: FTTTx 30 Sep 2013

FTTTx Joint application by Appellant and Respondent under Section 28Z TMA 1970 – Capital Gains tax – Private residence relief – Sale of part of grounds for residential development -Construction work commenced before contractual disposal – Whether land fell to be regarded as part of grounds -Yes – Whether relief due – Yes

[2013] UKFTT 653 (TC)
Bailii
Taxes Management Act 1970 28Z

Capital Gains Tax

Updated: 26 November 2021; Ref: scu.518590

Moore v Revenue and Customs: FTTTx 14 Aug 2013

FTTTx CAPITAL GAINS TAX – disposal of a residential property after 8 months of occupation – whether the property had been the appellant’s residence – whether his occupation of the property had the necessary degree of permanence, continuity or expectation of continuity – held on the evidence that it did not – sections 222 and 223 Taxation of Chargeable Gains Act 1992 not applicable – appeal dismissed

[2013] UKFTT 433 (TC)
Bailii
Taxation of Chargeable Gains Act 1992 222 223

Capital Gains Tax

Updated: 20 November 2021; Ref: scu.515215

Shing Cheung Mak v Revenue and Customs: FTTTx 30 Jul 2013

FTTTx Capital gains tax – taper relief – gain arising on disposal of residential property used as accommodation for workers in restaurant – whether business asset taper relief available – paragraph 5(1A) of Schedule A1, Taxation of Chargeable Gains Act 1992 – whether property used wholly or partly for the purposes of the restaurant trade – yes – business asset taper relief available – appeal allowed

[2013] UKFTT 417 (TC)
Bailii
England and Wales

Capital Gains Tax

Updated: 20 November 2021; Ref: scu.515192

Ridpath v Revenue and Customs: FTTTx 15 Jul 2013

FTTTx Capital gains tax – disposal of two properties – agent’s figures did not provide a deduction for property improvements – no details forthcoming – bank account shows numerous withdrawals for the period prior to sales – Appellant cannot provide details of what expenditure incurred – impossible to conclude how much expenditure incurred – appeal dismissed

[2013] UKFTT 389 (TC)
Bailii
England and Wales

Capital Gains Tax

Updated: 18 November 2021; Ref: scu.514183