Alexander v Inland Revenue Commissioners
Language: English Series: Estates Gazette ; 1991 EG 141-148(5)Publication details: 1991Subject(s): Summary: CA 17 January 1991. Appeal by I against a LT decision determining deceased (A)`s leasehold interest at market value . Appeal raises questions as to determining the value for the purposes of capital transfer tax now inheritance tax of an interest in land, acquired by the deceased under the right to buy provisions in Housing Act 1980 (now contained in Housing Act 1985 Part V ). Interest acquired subject to a charge to secure repayment of discount or a percentage thereof on early disposal of interest. Deceased died within a year of acquisition. CA accepted valuation of leasehold interest should take into account the obligation to pay the discount . Applied the Inland Revenue Commissioners v Crossman principles. CA remitted case to the LT. Appeal allowed.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Law report | London Journal article | ABS44906 (Browse shelf(Opens below)) | 1 | Available | 49821-1001 |
CA 17 January 1991. Appeal by I against a LT decision determining deceased (A)`s leasehold interest at market value . Appeal raises questions as to determining the value for the purposes of capital transfer tax now inheritance tax of an interest in land, acquired by the deceased under the right to buy provisions in Housing Act 1980 (now contained in Housing Act 1985 Part V ). Interest acquired subject to a charge to secure repayment of discount or a percentage thereof on early disposal of interest. Deceased died within a year of acquisition. CA accepted valuation of leasehold interest should take into account the obligation to pay the discount . Applied the Inland Revenue Commissioners v Crossman principles. CA remitted case to the LT. Appeal allowed.