Summary The qualifying holding period for taper relief for the purposes of the Taxation of Chargeable Gains Act 1992 s.2A(8) was not the whole period from the date of acquisition but was the period after April 5, 1998 for which the asset had been held at the time of its disposal. Facts...

Summary The court determined the appropriate level of deferment rate to be applied, in the circumstances, when calculating the price payable on enfranchisement or for an extended lease for houses or flats in central London. Facts In joined appeals, the court was required to determine the price payable on enfranchisement...

Summary Where a voting agreement had given a shareholder an absolute discretion in the manner in which it chose to raise funds, on a new issue of shares the shareholder had a right to choose investors including itself and others and a right to waive pre-emption rights in the company's...

Summary The court could not apply a formulaic test to decide whether a scheme was a lottery or a series of lotteries, or whether it amounted to fixed odds betting. Common sense should be applied to ask if, overall, a given scheme more closely resembled the classic description of betting...

Summary Where a fiduciary had made a profit from inducing the respondents, by his fraudulent representations, to enter into a joint venture to acquire a hotel, the appropriate remedy was that the fiduciary should disgorge all the profits, whether of a revenue or capital nature, subject to any allowances permitted...

Summary Wages, payments in lieu of notice and protective award payments for the period of the adoption of a contract, by virtue of the Insolvency Act 1986 Sch.B1 para.99(5)(b), were wages and salary for the purpose of para.99 of the Act and were payable in priority. Facts The applicant...

Summary An assessment by the Revenue to VAT was not valid where it sought to impose an output tax charge in respect of certain supplies that did not, in the circumstances, take place in the prescribed accounting period and no tax point arose for the purpose of the Value Added...

Summary Transactions between a company and a shadow director were voidable unless the requisite formalities had been observed. Where a person became a shadow director by virtue of the fact that the board of directors became accustomed to acting on his instructions, transactions entered into between the parties before that...

Summary A receiving party's three-year delay in bringing detailed costs assessment proceedings had not constituted a breach of the paying parties right to a hearing within a reasonable time pursuant to the European Convention on Human Rights 1950 Art.6, nor had the delay been abusive so as to merit a sanction...