Court : House of Lords
..... settlement can produce a sort of blurred double vision. in chamberlain v irc (1943) 25 tc 3 , for instance, the court (in applying section 38(2) of the finance act 1938) had to identify "the property comprised in the settlement" and to decide whether that settlement ("or any provision thereof") was revocable, and unsurprisingly ..... to have some efficacy for tax purposes (though subject to increasingly stringent conditions) until a general abolition of the relief (for surtax purposes) by section 12 of the finance act 1965. the general rule now (for all income tax purposes, though subject to some limited exceptions) is that in order to escape a tax ..... "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 .....
Tag this Judgment!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
..... 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
..... 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 which ..... custom, to the detriment of its competitors, because it instructs its drivers to ignore speed limits and jump red lights (lord walker in obg ltd. v. allan [2007] ukhl 21; [2007] 2 wlr 920, para. 266) should not be liable, even if the claim be put as a claim in conspiracy involving its drivers and directors. and - ..... supersedes and displaces the common law rights and remedies which the commissioners would otherwise have: see deutsche morgan grenfell group plc v. inland revenue commissioners [2006] ukhl 49, [2007] 1 ac 558, per lord walker at para. 135. for this to be the case, it seems to me that the statute must positively be shown to be .....
Tag this Judgment!Court : House of Lords
..... relevant statutory provisions were first enacted in the finance act 1986, section 44, and schedule 11 to that act under which the 1987 regulations were made. the 1988 act is a consolidating act and the relevant provisions in the 1986 act and its schedule 11 became sections 555 to 558 in the 1988 act. the 1987 regulations continue to have effect ..... 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 (which became section 18(1)(a)(iii) of the 1988 act). section 108 imposed a schedule d charge to tax on ..... ousted by a sufficient indication that in this case parliament did intend section 555 (2) of the income and corporation taxes act 1988 ("icta 1988") and its associated provisions (re-enacting provisions originally introduced by section 44 of and schedule 11 to the finance act 1986) to apply to a payment made by a person neither .....
Tag this Judgment!Court : House of Lords
..... 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 ..... . 65. the would have test might be thought to obtain some support from the decision of this house in deutsche morgan grenfell group plc v inland revenue commissioners [2007] 1 ac 558, which involved an enquiry as to the state of mind of in-house legal advisers in the taxpayer bank. but deutsche morgan grenfell was a case ..... -410/98) [2001] ch 620, paras 105-106, and again recently in test claimants in the thin cap group litigation v inland revenue commissioners case c-524/04 [2007] stc 906, paras 124-126. in each of those cases the united kingdom was unable to rely on the fact that the taxpayer had not made a particular claim ( .....
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 lord ..... 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 audit ..... court of appeal (mummery, keene and rimer ljj) allowed an appeal by moore stephens, a firm of chartered accountants, from an order of langley j made on 11 september 2007, [2007] ewhc 1826 (comm), [2008] bus lr 304, [2008] 1 bclc 697, and struck out s and rs claim against moore stephens (who had been its .....
Tag this Judgment!Court : House of Lords
..... of the limitation rules is a matter for parliament. 68. the matter has, of course, been addressed so far as the revenue is concerned by section 320 of the finance act 2004. but there are still some loose ends. as lord goff mentioned in his concluding remarks in kleinwort benson, this is a matter for consideration ..... 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 ..... with reasonable diligence have discovered it." (with effect from 8 september 2003, this provision no longer applies to mistakes of law in tax cases: see section 320 of the finance act 2004.) dmg says that it did not discover its mistake until the ecj gave judgment (after the commencement of proceedings) and no amount of diligence .....
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 .....
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