The appellant was an employee and director of the company. He ceased employment, and sought to receive payments from his pensions, but continued to hold the position of director.
Held: The provisions of the pension scheme had to be read in the context of the 1970 Act, and words in the trust instrument should be read with the same meanings. Here ‘retirement’ meant cessation of employment, and a director was to be included as an employee. It followed that relief was not available.
Judges:
Peter Gibson, Potter, Chadwick LLJ
Citations:
Times 28-Sep-2002, [2002] EWCA Civ 1277
Links:
Statutes:
Jurisdiction:
England and Wales
Citing:
Appeal from – Venables and Others v Hornby (Inspector of Taxes) ChD 14-Jun-2001
The word ‘retirement’ connotes a withdrawal from work, rather than merely a reduction in workload. A director claimed to have retired, and to be entitled to draw his pension, and to receive pension tax relief.
Held: Whether he had retired was . .
Cited by:
Appeal from – Venables and others v Hornby (Her Majesty’s Inspector of Taxes) HL 4-Dec-2003
The company director taxpayer had retired from his company but stayed on as an unpaid non-executive director. The trust deed for the company’s pension scheme provided for payments to be made to an employee. The director sought relief from payment of . .
Lists of cited by and citing cases may be incomplete.
Income Tax
Updated: 06 June 2022; Ref: scu.177477