Sargent v Customs & Excise Commissioners
Language: English Series: Rating & Valuation Reporter ; (1995) 35(9) RVR 168-171(4)Publication details: 1995Subject(s): Summary: CA 16 February 1995. The plaintiff (S) was appointed as receiver under powers contained in fixed legal charges granted by Lantrex Properties Ltd. over various properties in favour of the State Bank of South Australia, and under the Law of Propetry Act 1925. The company elected to charge the lessees of their mortgaged properties VAT on their rents; which S collected and retained. The defendants (C) made demand for payment of retained VAT by S, who sought direction of the court under Insolvency Act 1986 s35. Held that S was required to account for the VAT personally as the tenants paid it in expectation that S would account for it to C, and that it cannot be right to act in a way as to defeat this expectation. S was also required to account for VAT on behalf of the company, rather than pay an uncovenanted bonus to the bank.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Law report | London Journal article | ABS53866 (Browse shelf(Opens below)) | 1 | Available | 7012-1001 |
CA 16 February 1995. The plaintiff (S) was appointed as receiver under powers contained in fixed legal charges granted by Lantrex Properties Ltd. over various properties in favour of the State Bank of South Australia, and under the Law of Propetry Act 1925. The company elected to charge the lessees of their mortgaged properties VAT on their rents; which S collected and retained. The defendants (C) made demand for payment of retained VAT by S, who sought direction of the court under Insolvency Act 1986 s35. Held that S was required to account for the VAT personally as the tenants paid it in expectation that S would account for it to C, and that it cannot be right to act in a way as to defeat this expectation. S was also required to account for VAT on behalf of the company, rather than pay an uncovenanted bonus to the bank.