Chancery Division.

[The appeal against this decision is reported at [2002] BTC 412.]

Lawrence Collins J.

Judgment delivered 14 June 2001.

Income tax – Pension scheme – Meaning of ‘retirement’ – Whether payment expressly authorised by rules of scheme – Whether managing director and controlling shareholder who became unpaid non-executive director had retired – Whether taxpayer had retired in normal health – Whether taxpayer had received a payment out of pension scheme funds – Income and Corporation Taxes Act 1988, s. 600, 612.

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