000			01849cam a2200241 4500
001			ABS66484
008			030304n2003 000 0 eng u
035			_a(Sirsi) u121500
245			_aJerome v Kelly (HMIT)
260			_c2003
490			_aEstates Gazette _v[2003] 24 EG 163-171(9)
520			_a[2002] EWCA Civ 1879, 20 December 2002. In 1987, the respondent (J) and his brother contracted to sell land that they held on trust for themselves and J's wife as tenants in common. In 1988 J transferred part of their beneficial interests in the land to the trustees of two overseas settlements. An issue arose as to the capital gains tax (CGT) payable by J in respect of the sale. The Inland Revenue (IR) assessed J to CGT on the gains referable to the proceeds of the sale based upon the Capital Gains Tax Act 1979 s27(1). The High Court allowed J's appeal against the assessment on the grounds that the matters deemed under s27(1) of the 1979 Act were confined to the time of the disposal and not to the parties to it or the subject matter of it. IR appealed. CA held that IR was correct in its initial assessment. S27(1) of the 1979 Act applied to disposals under the 1987 contract which effected the completion of the sale. In accordance with s46(1) J was one of the vendors for CGT purposes. Appeal allowed. View judgment at www.courtservice.gov.uk
590			_aABS
650			_aCAPITAL GAINS TAX
650			_aJEROME V KELLY (HMIT)
650			_aCAPITAL GAINS TAX ACT 1979 S27(1)
650			_aDISPOSALS
650			_aTAXATION OF CHARGEABLE GAINS ACT 1992
650			_aINTERESTS IN LAND
690			_aTAXATION-CASE LAW
856			_uhttps://www.bailii.org/cgi-bin/markup.cgi?doc=/ew/cases/EWCA/Civ/2002/1879.html&query=Jerome+and+v+and+Kelly&method=boolean _zView the judgment free of charge at www.bailii.org
942			_n0
999			_c72208 _d72208