Smith v Revenue and Customs: FTTTx 13 Aug 2009

INCOME TAX – Schedule E – benefits in kind – employee shareholdings – disposal of shares by employee to employer for a consideration which exceeded market value – whether shares acquired in pursuance of a right or opportunity available to employee by reason of his employment – no – whether on the disposal of the shares the payment of a consideration which exceeded market value constituted the provision of a benefit provided by reason of his employment – yes – appeal dismissed – ICTA 1988 Ss 162(1)(b), 162(6)(b) and 154
[2009] UKFTT 210 (TC)
Bailii
England and Wales

Updated: 24 February 2021; Ref: scu.409036