000			02572cad a22003735a 4500
001			L146364
008			090112e20081215xxk f v 000 0 eng d
035			_a(Sirsi) u146364
041	0		_aeng
245	0	0	_aUnderwood v Revenue & Customs Commissioners (appeal) _h[electronic resource]
260			_c2008
520			_a[2008] EWCA Civ 1423, 15 December 2008. The court found that there had been no disposal of a property for the purposes of capital gains tax where the purchase price in an uncompleted sale contract had been netted off against the price under a repurchase contract and the netting off was the sole purpose of the contracts. Appellant taxpayer (U) appealed against a decision that there had been no disposal for capital gains tax purposes in a purchase/repurchase contract. U sold a property to company (R) and signed a contract whereby he could purchase it back with the addition of ten percent of any rise in value over the intervening period. Before the contract was completed U sold to (B) (a company which he controlled). U completed the contract, but tried to treat the difference in prices as a disposal for capital gains tax purposes. Held: appeal dismissed. The evidence provided showed that the completion of the sale to R never occurred and that the purchase price was netted off between the different contracts. The only way that it would have classed as a disposal would have been if the beneficial interest in the property had been transferred to R, which never happened. The reasoning of the original Commission had been correct.
521			_aAdvanced
590			_aKA
650	2	4	_aENSIGN TANKERS LEASING LTD V STOKES
650	2	4	_aJEROME V KELLY (HMIT)
650	2	4	_aKIRBY V THORN EMI PLC
650	2	4	_aTAXATION OF CHARGEABLE GAINS ACT 1992 S28(1)
650	2	4	_aUNDERWOOD V REVENUE & CUSTOMS COMMISSIONERS (APPEAL)
650	2	4	_aBERRY V WARNETT
650	2	4	_aCOREN V KEIGHLEY
650	2	4	_aEARL OF EGMONT V SMITH
650	2	4	_aENGLEWOOD PROPERTIES LTD V PATEL AND ANOTHER
650	2	4	_aMCCAUSLAND V DUNCAN LAWRIE LTD
650	2	4	_aO'BRIEN V BENSON'S HOSIERY (HOLDINGS) LTD
650	2	4	_aSHAW V FOSTER
650	2	4	_aSPECTROS INTERNATIONAL PLC V MADDEN
650	2	4	_aLAW OF PROPERTY (MISCELLANEOUS PROVISIONS) ACT 1989 S2(1)
650	2	4	_aMACNIVEN V WESTMORELAND INVESTMENTS
651		4	_aEngland and Wales _y1543-
690			_aPROPERTY AND LAND LAW-RESIDENTIAL
856	4	0	_uhttps://www.bailii.org/ew/cases/EWCA/Civ/2008/1423.html _zView the item free of charge online at www.bailii.org...
942			_n0
999			_c109138 _d109138