Honeychurch v McKenna
Honeychurch v McKenna
- 1997
- Rating & Valuation Reporter [1997] RVR 270-280(11) .
LT 14 March 1997. Inspector of Taxes M valued a freehold interest in 1.83ac of land at £55,000, deferred at 12% because it did not have the benefit of planning permission. Landowner and taxpayer H contended that the local plan allowed in 1982 (the determination date) for the land to be used for housing development at the local authorities` discretion (at the time the only localised plan was an out of date map that did not include the area in large scale development) and as the area was one of the most prime locations in Shropshire it would be likely to receive such planning permission. Hence, H adopted a value of £90,000. "Held" Market value at £53,000.
CAPITAL GAINS TAX
CAPITAL VALUE
FREEHOLD INTEREST
HONEYCHURCH V MCKENNA
HOPE VALUE
LOCAL PLAN
PLANNING PERMISSION
TAXES MANAGEMENT ACT 1970
VALUE
LT 14 March 1997. Inspector of Taxes M valued a freehold interest in 1.83ac of land at £55,000, deferred at 12% because it did not have the benefit of planning permission. Landowner and taxpayer H contended that the local plan allowed in 1982 (the determination date) for the land to be used for housing development at the local authorities` discretion (at the time the only localised plan was an out of date map that did not include the area in large scale development) and as the area was one of the most prime locations in Shropshire it would be likely to receive such planning permission. Hence, H adopted a value of £90,000. "Held" Market value at £53,000.
CAPITAL GAINS TAX
CAPITAL VALUE
FREEHOLD INTEREST
HONEYCHURCH V MCKENNA
HOPE VALUE
LOCAL PLAN
PLANNING PERMISSION
TAXES MANAGEMENT ACT 1970
VALUE