The inspector disallowed a claim for enterprise investment relief, saying that not all the funds raised were to be used for a qualifying purpose.
Held: The proceeds of a share issue had been used in part to pay a dividend. The issue did not qualify. The inspector’s refusal yto authorise exemption was a decision refusing the claim, and gave rise to the same right sof appeal as a decision.
Judges:
The Hon Mr Justice Lightman
Citations:
[2004] EWHC 524 (Ch), Times 01-Apr-2004
Links:
Statutes:
Taxes Management Act 1970 1A, Incom,e and Corporation Taxes Act 1988 306
Jurisdiction:
England and Wales
Citing:
Cited – Strong and Co of Romsey Ltd v Woodifield HL 30-Jul-1906
The company sought to deduct from its trading profits a sum expended paying damages for personal injuries to a visitor to the taxpayer’s Inn. The claim had been rejected.
Held: The company’s appeal failed. Lord Davey said: ‘I think that the . .
Appeal From – Forthright (Wales) Ltd v Hm Inspector of Taxes SCIT 29-Sep-2003
. .
Lists of cited by and citing cases may be incomplete.
Taxes Management, Corporation Tax
Updated: 10 June 2022; Ref: scu.194573