Court of Appeal.

[The appeal against this decision is reported at [1990] BTC 490.]

Sir Nicolas Browne-Wilkinson V.-C., Parker L.J. and Sir Roualeyn Cumming-Bruce.

Judgment delivered 12 April 1989.

Income tax – Building societies – Composite rate – Tax paid by building societies representing income tax of investors – Changes in method of payment resulting in increased payment over transitional period – Income and Corporation Taxes Act 1970, sec. 343(1), (1A) (now Income and Corporation Taxes Act 1988, sec. 476 and see sec. 828(1)); Finance Act 1986, sec. 47; Income Tax (Building Societies) Regulations 1986 (S.I. 1986 No. 482), reg. 3, 11.

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