HL Income Tax, Schedule D – Finance company – Loan granted in return for option to subscribe at par for shares in borrower – Option exercised, and loan correspondingly reduced, when shares standing at premium – Whether profit realised.
Citations:
[1965] UKHL TC – 42 – 406, [1965] 2 All ER 395, 42 TC 406, [1965] 3 WLR 47, [1966] AC 381
Links:
Jurisdiction:
England and Wales
Income Tax
Updated: 14 June 2022; Ref: scu.559795