CAPITAL GAINS TAX – Computation of gain – Second hand life assurance policy – Surrender proceeds brought into computation of chargeable event gain for income tax – Whether surrender proceeds to be excluded as disposal consideration for CGT purposes – No – TCGA 1992 s37(1)CAPITAL GAINS TAX – Acquisition consideration – Wholly and exclusively for the acquisition of the asset – Second hand life assurance policies acquired for ¬¨¬£210,000 above surrender value as part of tax avoidance scheme – Whether entire consideration incurred for acquisition of the policies or as part of pre-ordained tax avoidance scheme – Whether alternatively the ¬¨¬£210,000 was consideration for acquisition of the policies – No – Appeal dismissed – TCGA s.38(1)Patrick Way and Hui Ling McCarthy appeared for the AppellantTimothy Brennan KC and Nicola Shaw appeared for the Respondent
Jason Drummond v. The Commissioners for Her Majesty’s Revenue and Customs – Special Commissioners
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Nicola Shaw KC wins Tax Silk of the Year at Legal 500 UK Bar Awards
Nicola Shaw KC has been awarded the Tax Silk of the Year
30 Sep 2024
Gray’s Inn Tax Chambers is delighted to have been shortlisted for Tax Set of the Year and Nicola Shaw KC for Tax Silk of the Year in this year’s Chambers UK Bar Awards 2024.
The rankings and shortlist are the result of extensive research and thousands of interviews conducted by Chambers and Partners.
23 Aug 2024
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