Garner (HMIT) v Pounds Shipowners & Shipbreakers Ltd and another
Series: Estates Gazette ; [2000] 34 EG 84-87(4)Publication details: 2000Subject(s): Summary: HL 18 May 2000. Appellant taxpayers had each granted options to purchase land on identical terms. Appeals considered and decided on facts concerning the first company, P. Company secured the release of two restrictive covenants by paying £90,000. Revenue assessed the company to tax on the basis that the consideration for the disposal was £399,750. P contended that the £90,000 should be set off against the disposal consideration. CA rejected these contentions. Appellants appealed. Appeals dismissed.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Law report | London Journal article | ABS62810 (Browse shelf(Opens below)) | 1 | Available | 108142-1001 |
HL 18 May 2000. Appellant taxpayers had each granted options to purchase land on identical terms. Appeals considered and decided on facts concerning the first company, P. Company secured the release of two restrictive covenants by paying £90,000. Revenue assessed the company to tax on the basis that the consideration for the disposal was £399,750. P contended that the £90,000 should be set off against the disposal consideration. CA rejected these contentions. Appellants appealed. Appeals dismissed.