Court : House of Lords
..... respondent association is a "body of persons . . . established for charitable purposes only and is therefore entitled to exemption under section 30 of the finance act, 1921, as amended by section 24 of the finance act, 1927. the special commissioners answered this question in favour of the association but stated a case at the instance of the ..... i would allow the appeal. lord reid my lords, the respondents claim that they are entitled to exemption from income tax under section 30 of the finance act, 1921, as amended by section 24 of the finance act, 1927. it is admitted that if they are a body of persons . . . established for charitable purposes only they are ..... for their opinion, whether the city of glasgow police athletic association is, within the meaning and for the purposes of section 30 of the finance act, 1921 (as amended by section 24 of the finance act, 1927) a charity, namely a body of persons established for charitable purposes only. the lord president pointed out that pemsel .....
Tag this Judgment!Court : House of Lords
..... of "settlement" ("includes any disposition, trust, covenant, agreement, arrangement or transfer of assets") appeared for the first time in subsection (9)(b) of section 21 of the finance act 1936 (provisions as to income settled on children), which was capable of applying to covenanted payments as well as to the income of settled property. covenants continued ..... butler v wildin (1988) 61 tc 666 also concerned the provision for settlements for the benefit of minor children, by then contained in section 437 of the income and corporation taxes act 1970. in september 1980 two brothers, graham and garry wildin, who each had two minor children, started negotiations with british rail to acquire a ..... 41. in irc v plummer [1980] ac 896, 911-912, lord wilberforce referred to the statutory origins of part xvi of the income and corporation taxes act 1970: "[part xvi] includes a number of provisions which have been enacted at different times, the general effect of which is to cause income of which a person .....
Tag this Judgment!Court : House of Lords
..... as follows: "whether the surplus arising from transactions of insurance of the association with its members is assessable to income tax by virtue of section 31 (1) of the finance act, 1933?" the special commissioners answered the question in the affirmative, but their decision was reversed by the first division of the court of ..... included in computing profits for the purposes of corporation profits tax, by virtue of the express provisions of paragraph (h) of subsection (2) of section 53 of the finance act, 1920, the material part of which provides, "profits shall include in the case of mutual trading concerns the surplus arising from transactions with members. ..... members. it is not disputed that the assessment was made on the footing that such surplus constituted profits chargeable to income tax by virtue of section 31 of the finance act, 1933, and could not otherwise be justified. on appeal, the special commissioners affirmed the assessment, and, on the requisition of the association, .....
Tag this Judgment!Court : House of Lords
..... reflected the restrictive view which the commissioners took, at that time, as to the scope of regulation 29. the marks and spencer litigation 38. the amendment made by section 47 of the finance act 1997 was challenged by marks and spencer in very complex litigation commenced by two separate notices of appeal against the refusal of repayment claims, one (in respect of tea ..... were to be made by 30 june 2003 (that is, there was a similar three-month extension). bb 27/02 did not expressly refer to section 80 of vata 1994 or to section 47(2) of the finance act 1997 (as bb 22/02 had done). but it was framed simply as an extension of the bb 22/02 and it contained no reference ..... 29 which permits claims for a deduction to be made later did not subject those claims to any time limit. 3. an amendment to section 80(4) of vata 1994 was enacted by section 47 of the finance act 1997 with effect from 18 july 1996. it reduced the six year time limit for the recovery of overpaid tax to three years and removed .....
Tag this Judgment!Court : House of Lords
..... made or adapted for use in connection with computers and various other equipment of a similar nature which it specifies. 17. secondly, section 55a was added by section 19(1) of the finance act 2006, together with section 26ab which provides for the adjustment of accounts to give effect to it. it introduced a system known as reverse charge accounting ..... enables overpayments of vat to be recovered from the commissioners by a taxpayer, albeit usually subject to a limitation period of six years. 159. section 77a was introduced by the finance act 2003, and was therefore not in force when the events in this case occurred. it applies where, at the time of a taxable supply of ..... to vata 1994 by amendment to address the problem of intra-community fraud, are also relevant to an understanding of the scheme of vata 1994. first, section 77a was added by section 18(1) and (4) of the finance act 2003 with effect from 10 april 2003. it enables the commissioners, where a taxable supply of goods to which the .....
Tag this Judgment!Court : House of Lords
..... (which became section 18(1)(a)(iii) of the 1988 act). section 108 imposed a schedule d charge to tax on the profits or gains of ..... section 555 and 556 that have been made to your lordships it is necessary to refer to the problems about the tax treatment of foreign entertainers and sportsmen that led to the enactment of the relevant provisions of the finance act 1986. there were a number of perceived problems in applying to foreign entertainers and sportsmen the charging provisions of section 108 of the 1970 act .....
Tag this Judgment!Court : House of Lords
..... involving no illegality. 141. the alleged illegality was in the company providing financial assistance for the purchase of its shares, contrary to what was then section 54 of the companies act 1948. that provision is one reflection of the basic principle of company law requiring a limited company to maintain its capital: see the explanation by ..... the auditors negligence was insufficient). there was no suggestion that mr sanders knowledge of or involvement in the fraud could defeat it. 244. more recently, in sasea finance ltd (in liquidation) v kpmg (formerly kpmg peat marwick mclintock [2000] 1 all er 676, the auditors were alleged to have failed to report promptly during the ..... 15 june 1999.) 247. examples of cases where auditors have been held liable for further losses in a continuing scheme of fraud include pacific acceptance corpn. ltd. v forsyth (1970) 92 wn (nsw) 29 (see at p.41e-f - quantum was ultimately compromised: see p.133d-e), dairy containers ltd. v nzi bank ltd. and auditor .....
Tag this Judgment!Court : House of Lords
..... the taxpayer in a return, a statutory remedy for repayment is available. the leading examples are to be found in section 33 of the taxes management act 1970 as to income tax and capital gains tax and the finance act 1998, schedule 18, para 51 as to corporation tax. the remedy available under these provisions must be sought not ..... mistake of law relating to a taxation matter under the care and management of the commissioners for revenue and customs: finance act 2004, section 320 (read together with section 5 of the commissioners for revenue and customs act 2005). that section, which applies only to actions brought on or after 8 september 2003, was enacted in response to the judgment ..... later than six years after the end of the relevant accounting period: see tma 1970, section 33(1). cases not covered by one or other of these .....
Tag this Judgment!Court : House of Lords
..... make no order. the facts of the case are somewhat involved but present no real difficulty. it is in the application to them of the relevant sections of the finance act, 1940, that i have found it impossible to reach any conclusion that is wholly satisfactory. i will give a broad outline of the relevant facts ..... to deal with the cross appeal of the crown. no one could suppose that section 43 is anything but an obscure section. so was section 11 of the finance act, 1900, the statutory parent of the present enactment. so were section 35 and section 39 of the finance act, 1930, which extended the scope, without elucidating the meaning, of the charge imposed ..... chosen the claim for estate duty on the ordinary shares of the company fails and the appeal must be allowed. the alternative claim which arises under section 46 of the finance act, 1940, must now be considered. it involves the consideration of provisions which are, i think, of unrivalled complexity and difficulty and couched in language .....
Tag this Judgment!Court : House of Lords
..... the benefit of the final consumer". 28. the european background helps to explain the evolution of the vat treatment of building works under domestic legislation. under the finance act 1972, which introduced vat into the united kingdom, all construction and alteration of buildings (of any sort) was zero-rated. in 1981 the commission questioned the ..... i would have expected the notes to deal expressly with that requirement, just as they had at one time, albeit for different reasons not connected with the section 1(5)(b) definition, made distinctions between main buildings and secondary buildings in the grounds of the former. there is nothing in the rationale of the ..... used in conjunction with an indoor swimming pool which they constructed alongside it. 50. the planning (listed buildings and conservation areas) act 1990 ("the 1990 act") provides by section 1(5): "in this act 'listed building' means a building which is for the time being included in a list compiled or approved by the secretary of .....
Tag this Judgment!