Court : House of Lords
..... assessable as trustees on behalf of the life tenants, who would accordingly be entitled to the benefit of the exemption contained in the proviso in s. 5 of the finance act, 1914. the assessments in question in pool v. royal exchange assurance co., which were made upon the respondents as trustees for the beneficiary mrs. munthe, and were ..... a trustee or agent for others and he is taxed on behalf of and as representing his beneficiaries or principals. this is made clear by the language of many sections of the act of 1842. for instance, s. 41 provides that a person not resident in great britain shall be chargeable "in the name of" his trustee or agent. ..... provisions of s. 108, for regulating the mode in which duty in respect of profits or gains arising from foreign possessions or foreign securities is to be assessed. the section contains a provision in the following words: "in default of the owner or proprietor thereof being charged, the trustee, agent, or receiver of such profits or gains .....
Tag this Judgment!Court : House of Lords
..... that under subsection (9) undertaking means an undertaking carried on by way of trade). the text below includes minor amendments made by the finance acts 1991 and 1995. (1) subject to the provisions of this section, in this part industrial building or structure means a building or structure in use - (a) for the purposes of a trade ..... 27. mr goodfellow argued that the construction which i prefer is inconsistent with section 18(3), the second part of which would be unnecessary, he said, unless section 18(2) had the wide meaning he contends for. section 18(3) was originally introduced by the finance act 1982 so as to reverse the decision of the court of appeal in ..... to amend the law. 47. instead, in 1982, the wording of s.18(3) was introduced into the capital allowances act 1968 (the predecessor statute to the 1990 act) by amendment made by the finance act 1982. s.18(3) provides that the subjection of goods or materials to a process should include maintaining or repairing them. .....
Tag this Judgment!Court : House of Lords
..... that the reference in section 788(1)(b), and therefore in section 788(3)(a), of the ..... excluded from the "subset" would be act. 48. mr aaronson sought to meet that point by relying on the legislative history of section 788 of the 1988 act, namely section 347(1) of the income tax act 1952, sections 39(1) and 64(1) of the finance act 1965, section 497(1) of the income and corporation taxes act 1970, and section 100(1) of the finance act 1972. in effect, he said .....
Tag this Judgment!Court : House of Lords
..... the inland revenue flow from the open-ended character of the extended limitation period prescribed by section 32(1)(c) of the limitation act 1980. parliament has now recognised this extended period should not apply to payments of tax made by mistake: see section 320 of the finance act 2004. the judge's order 126. the effect of the judge's order as clarified in ..... a distinguished law revision committee, chaired by lord hanworth mr (cmd 4546). the act expanded the circumstances in which interest might be awarded, to provide for the discretionary award of simple interest on any debt or damages for which judgment was given by a court. in june 1978 the law commission issued a report on interest (law com no 88; cmnd. 7229 .....
Tag this Judgment!Court : House of Lords
..... real property in the united kingdom. it was contemplated that the bulk of the funding would be provided by oaktree and that criterion, besides contributing a certain amount of finance, would act as managing agent of the properties that were acquired. a partnership agreement was accordingly signed on 26 january 1998. this was the so-called investment and shareholders' agreement ..... the ssa. but did the board of criterion do so? if the board did do so, did it have the power to do so? the effect of section 35a of the companies act, 1985, may have to be taken into account. if the answer to these sub-questions is 'no', then it would seem to follow that mr glaser ..... attract a heavy financial penalty for their company. could it be said that they, or any of them, had apparent authority to conclude such an agreement? here, too, section 35a of the companies act, 1985, may be relevant. 30. this case turns, in my opinion, on the "authority" issue. if mr. glaser and mr. palmer either had actual authority .....
Tag this Judgment!Court : House of Lords
..... on this appeal is produced by a combination of four things. first, the finance act 1972 introduced advanced corporation tax (act) to our tax system. the charging provision, originally section 84(1) of the 1972 act, became section 14(1) of the income and corporation taxes act, 1988. it required a company which made a "qualifying distribution" (typically the ..... of community law on the partial 'imputation' system of corporation tax operated within the united kingdom between 1973 and 1999. this system was introduced by the finance act 1972 as a means of avoiding the perceived double taxation of distributed profits, once in the hands of the company and again in the hands of its ..... and the uk and italy did. the agreements themselves did not ipso facto become enforceable in our domestic law but section 788 of the 1988 act gave them that enforceability. sub-section (1) of section 788 declared that "if her majesty by order in council declares that arrangements specified in the order have been made .....
Tag this Judgment!Court : House of Lords
..... different point). 9. the final complication is that both of mandss claims were threatened with being reduced by retrospective legislation. the finance act 1997 introduced a new section 80 (4) of the value added tax act 1994 imposing a retrospective three-year limit on repayment claims (the teacakes claim, it will be recalled, went back to 1973). ..... of payment traders and repayment traders is not, the court concluded, objectively justified, a conclusion illustrated by the amendment of section 80 (3) of the value added tax act 1994 by section 3 of the finance (no 2) act 2005. this conclusion was spelled out as follows (para 54): the answer to the third question must therefore be that ..... and excise commissioners (case c-288/94) [1997] qb 499; [1996] stc 1359. this was despite an amendment made in 1992 to section 10(3) of the value added tax act 1983, which was intended to correct an error in transposing the sixth directive into national law. mands claimed repayment of 2.8m, part of it .....
Tag this Judgment!Court : House of Lords
..... -avoidance provisions which had been introduced into schedule 10 to counteract certain schemes of this kind. 5. the relevant provisions were inserted into schedule 10 by section 37 of the finance act 1997: 2 (3aa) where an election has been made under this paragraph in relation to any land, a supply shall not be taken by ..... executive committee of the company and the library users committee of the college. the meeting considers reports on the running of the library and the librarys finances. the meeting also considers the position of those who have breached library rules, although the ultimate decision in such cases lies with the librarian. 75. in ..... the college. the terms of secondment are contained in a specimen letter to the employee scheduled to the agreement. it provides that during secondment the employee will act in the specified capacity (librarian, assistant librarian, etc) for the company and be responsible for the provision of services to members of the college. the employees .....
Tag this Judgment!Court : House of Lords
..... she was in such a position. the trustees were executors, and, under the provisions of the settlement, the whole estate was under their control, and, therefore, under section 6, subsection (2), of the finance act, 1894, they were in a position, if they chose, to elect to pay the estate-duty on the heritable property, and, having done so, they became accountable ..... in a return made in connexion with any claim for a deduction from assessable income, but subject to the provisions hereinafter contained. and by section 19 of the income tax act of 1918, as amended by the finance act, 1920, it is provided: 19. for the purpose of any claim for an allowance or deduction the income arising from the ownership of ..... viscount dunedin(read by lord carson). [after the narrative quoted supra]by section 5 of the income tax act of 1918, as amended by the finance act of 1920, it is provided:5. (1) for the, purposes of super-tax, the total income of any individual from all sources shall be taken to be the .....
Tag this Judgment!Court : House of Lords
..... clearly a profit from the office, and, as regards the ten-year pension, he held that, as the pension would have been assessable under schedule e by virtue of section 17 of the finance act 1932, the sum payable in commutation thereof was assessable under schedule e, and he based this finding on the decision in short brothers ltd. v. commissioners of inland ..... received upon the sale or surrender of pension rights is not taxable under schedule e because it is neither pension nor annuity and comes under no other heading of that section. it is in the head notes to dewhurst's case said to be exempt as being capital and not income. it is not, as i think, a pension or annuity ..... to the appellant in two instalments at a year's interval under the agreement of 6th april 1938 is chargeable to income tax under schedule e of the income tax act of 1918, as paid to him in respect of his office of director and coming within the words of rule i of schedule e, vizt, all salaries, fees, wages, perquisites .....
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