The taxpayers sought relief after giving shares in a company to another company owned by themselves. The taxpayers appealed refusal of hold over relief in respect of chargeable gains.
Held: The holdings in the recipient company made the companies connected with each other. The section was plainly intended to provide this result, even though that company was Irish.
Lord Justice Chadwick, Lord Justice Longmore and Mr Justice Lindsay
 EWCA Civ 8, Times 24-Jan-2007
Taxes Management Act 1970 , Taxation of Chargeable Gains Act 1992 165
England and Wales
At Commissioners – Foulser v HM Inspector of Taxes SCIT 22-Feb-2005
CAPITAL GAINS TAX – shareholder giving shares in private company to a company held within an insurance bond – whether the former shareholder and the insurance company were connected persons as acting together to secure or exercise control of the . .
Appeal from – Foulser and Another v HM Inspector of Taxes ChD 20-Dec-2005
The taxpayer company entered into an arrangement in which shares were purchased by a company based in Ireland and resold. A claim was made for holdover relief.
Held: The scheme failed. The restriction imposed did not infringe the right of . .
These lists may be incomplete.
Updated: 10 April 2021; Ref: scu.247931