Accrued income scheme

– see Accrued income scheme

Anti-avoidance

Commentary – Quick Overview ¶8750–Quick Overview ¶8765

Anti-avoidance rules

Commentary – Tax Reporter ¶763-700

Arrangements to pass on value of tax credit

Commentary – Tax Reporter ¶341-400

Bond-washing

Commentary – Tax Reporter ¶341-550

Cancellation of tax advantage

Bona fide commercial reasons

Case Law – Lloyd v. R & C Commrs (2008) Sp C 672

Change in ownership

Commentary – Quick Overview ¶8758

Charity

Case Law – Sheppard & Anor (trustees of the Woodland Trust) v. Inland Revenue Commissioners (No. 2). [1993] BTC 113

Clearance procedure

Commentary – Quick Overview ¶8765

Declaration and payment of dividend

Case Law – Inland Revenue Commissioners v Laird Group plc. [2001] BTC 137 ; Inland Revenue Commissioners v Laird Group plc. [2002] BTC 208 ; Inland Revenue Commissioners v Laird Group plc. [2003] BTC 385

Exempt pension scheme

Case Law – Inland Revenue Commissioners v. Universities Superannuation Scheme Ltd. [1997] BTC 3

Generally

Commentary – Quick Overview ¶8750
Case Law – Bird & Ors v. Inland Revenue Commissioners. Breams Nominees Ltd. & Anor v. Inland Revenue Commissioners. [1987] BTC 134 ; Bird & Ors. v. Inland Revenue Commissioners; Breams Nominees Ltd. & Anor. v. Inland Revenue Commissioners. [1988] BTC 164 ; Bird and Others v. Inland Revenue Commissioners. Breams Nominees Limited and Another v. Inland Revenue Commissioners. Harley (H.M.I.T.) v. Ilmarish Investments Limited. [1985] BTC 259

Group of companies, reconstruction/reorganisation

Case Law – Cedar plc and Larch Ltd v HM Inspector of Taxes (1998) Sp C 155 ; Marwood Homes Ltd v IR Commrs (1996) Sp C 106

Liquidation

Case Law – Ebsworth [2009] TC 00152

Main object obtaining a tax advantage

Case Law – Snell v. R & C Commrs (2008) Sp C 699

Meaning of tax advantage

Commentary – Quick Overview ¶8760

Repayment of loan stock out of subsidiary's profits after hive-down

Case Law – Bamberg [2010] TC 00618

Sale of shares to qualifying employee share ownership trust

Case Law – Grogan [2009] TC 00187 ; Grogan v Revenue and Customs Commissioners. [2011] BTC 1,535

Share buybacks

Case Law – Inland Revenue Commissioners v Trustees of the Sema Group Pension Scheme. [2002] BTC 109 ; Sema Group Pension Scheme Trustees v Inland Revenue Commissioners. [2003] BTC 106

Case study: partition of investment company

Commentary – Tax Reporter ¶763-840
HMRC Guidance – CG45410 ; SDLTM23015

Certificates of deposit, transactions in

Commentary – Tax Reporter ¶341-500

Condition A

Commentary – Quick Overview ¶8756

Condition B

Commentary – Quick Overview ¶8757

Corporation tax, cancellation of advantage

Appeal to tribunal

Commentary – Tax Reporter ¶763-680

Assessment

Commentary – Tax Reporter ¶763-620

Charge to tax

Commentary – Tax Reporter ¶763-620 ; Tax Reporter ¶763-630

Circumstance A, receipt of abnormal dividend

Commentary – Tax Reporter ¶763-480

Circumstance C, other party to the transaction

Commentary – Tax Reporter ¶763-490
Case Law – Anysz v. Commissioners of Inland Revenue Manolescue v. Commissioners of Inland Revenue ; Commissioners of Inland Revenue v. Garvin Commissioners of Inland Revenue v. Rose ; Gordon Haig Emery v. Commissioners of Inland Revenue ; Greenberg v. Commissioners of Inland Revenue Commissioners of Inland Revenue v. Tunnicliffe ; Williams and Others v. Commissioners of Inland Revenue

Circumstance D, non-taxable distributions

Commentary – Tax Reporter ¶763-500–Tax Reporter ¶763-540

Circumstance E, receipt of shares following transfer of assets

Commentary – Tax Reporter ¶763-550
Case Law – Williams and Others v. Commissioners of Inland Revenue

Clearance procedure

Commentary – Tax Reporter ¶763-420 ; Tax Reporter ¶763-690

Conditions to be fulfilled

Commentary – Tax Reporter ¶763-410 ; Tax Reporter ¶763-430
Case Law – Commissioners of Inland Revenue v. Joiner ; Commissioners of Inland Revenue v. Cleary Commissioners of Inland Revenue v. Perren ; Commissioners of Inland Revenue v. G.G. Parker Commissioners of Inland Revenue v. M.E. Parker Commissioners of Inland Revenue v. F.J. Tomlinson Commissioners of Inland Revenue v. H.A. Parker ; Greenberg v. Commissioners of Inland Revenue Commissioners of Inland Revenue v. Tunnicliffe

Exemptions

Commentary – Tax Reporter ¶763-410 ; Tax Reporter ¶763-600 ; Tax Reporter ¶763-610
Case Law – Commissioners of Inland Revenue v. Kleinwort, Benson Ltd. ; Hasloch v. Commissioners of Inland Revenue

Generally

Commentary – Tax Reporter ¶763-400

Genuine commercial reasons, exemption

Commentary – Tax Reporter ¶763-600
Case Law – Hasloch v. Commissioners of Inland Revenue

Information, power to obtain

Commentary – Tax Reporter ¶763-640

Judicial attitudes

Commentary – Tax Reporter ¶763-430
Case Law – Commissioners of Inland Revenue v. Joiner ; Commissioners of Inland Revenue v. Cleary Commissioners of Inland Revenue v. Perren ; Commissioners of Inland Revenue v. G.G. Parker Commissioners of Inland Revenue v. M.E. Parker Commissioners of Inland Revenue v. F.J. Tomlinson Commissioners of Inland Revenue v. H.A. Parker ; Greenberg v. Commissioners of Inland Revenue Commissioners of Inland Revenue v. Tunnicliffe

Liquidation

Commentary – Tax Reporter ¶763-450
Case Law – Commissioners of Inland Revenue v. Joiner

Non-residents

Commentary – Tax Reporter ¶763-630

Notice of counteraction of tax advantage

Commentary – Tax Reporter ¶763-670

Notification to be given

Commentary – Tax Reporter ¶763-650
Case Law – Balen v. Commissioners of Inland Revenue and Others

Obtaining an advantage

Commentary – Tax Reporter ¶763-570–Tax Reporter ¶763-590
Case Law – Commissioners of Inland Revenue v. Goodwin Commissioners of Inland Revenue v. Baggley ; Commissioners of Inland Revenue v. Brebner ; Hasloch v. Commissioners of Inland Revenue ; Lloyd v. R & C Commrs

Ordinary course of making investments, exemption

Commentary – Tax Reporter ¶763-610
Case Law – Commissioners of Inland Revenue v. Kleinwort, Benson Ltd.

Payment of dividend

Commentary – Tax Reporter ¶763-460
Case Law – Commissioners of Inland Revenue v. Joiner ; Commissioners of Inland Revenue v. G.G. Parker Commissioners of Inland Revenue v. M.E. Parker Commissioners of Inland Revenue v. F.J. Tomlinson Commissioners of Inland Revenue v. H.A. Parker ; Greenberg v. Commissioners of Inland Revenue Commissioners of Inland Revenue v. Tunnicliffe

Prescribed circumstances

Commentary – Tax Reporter ¶763-470

Securities, meaning

Commentary – Tax Reporter ¶763-440

Statutory declaration by taxpayer

Commentary – Tax Reporter ¶763-660
Case Law – Balen v. Commissioners of Inland Revenue and Others

Transactions in securities, meaning

Commentary – Tax Reporter ¶763-430
Case Law – Commissioners of Inland Revenue v. Joiner ; Commissioners of Inland Revenue v. Cleary Commissioners of Inland Revenue v. Perren ; Commissioners of Inland Revenue v. G.G. Parker Commissioners of Inland Revenue v. M.E. Parker Commissioners of Inland Revenue v. F.J. Tomlinson Commissioners of Inland Revenue v. H.A. Parker ; Greenberg v. Commissioners of Inland Revenue Commissioners of Inland Revenue v. Tunnicliffe

Group relief restrictions

Commentary – 9.2.7

Income tax, cancellation of tax advantage

Appeals

Commentary – Tax Reporter ¶763-390

Clearance procedure

Commentary – Tax Reporter ¶763-310

Counteraction notices

Commentary – Tax Reporter ¶763-360
Case Law – Wiseman and Another v. Borneman and Others

Counteraction procedure

Commentary – Tax Reporter ¶763-300

Dividends

Commentary – Tax Reporter ¶763-050
Case Law – Commissioners of Inland Revenue v. Joiner

Generally

Commentary – Tax Reporter ¶763-000

Information, HMRC's powers

Commentary – Tax Reporter ¶763-320

Liquidation

Commentary – Tax Reporter ¶763-050
Case Law – Commissioners of Inland Revenue v. Joiner

Main purpose/object

Commentary – Tax Reporter ¶763-070
Case Law – Commissioners of Inland Revenue v. Goodwin Commissioners of Inland Revenue v. Baggley ; Commissioners of Inland Revenue v. Brebner ; Lloyd v. R & C Commrs ; Marwood Homes Ltd v IR Commrs

Obtaining an advantage

Commentary – Tax Reporter ¶763-060
Case Law – Commissioners of Inland Revenue v. Cleary Commissioners of Inland Revenue v. Perren ; Commissioners of Inland Revenue v. E. A. Wiggins Commissioners of Inland Revenue v. J. P. Wiggins Commissioners of Inland Revenue v. C. W. Smith Commissioners of Inland Revenue v. L. W. Moscrop ; Commissioners of Inland Revenue v. G.G. Parker Commissioners of Inland Revenue v. M.E. Parker Commissioners of Inland Revenue v. F.J. Tomlinson Commissioners of Inland Revenue v. H.A. Parker ; Gordon Haig Emery v. Commissioners of Inland Revenue ; Hague v. Commissioners of Inland Revenue Commissioners of Inland Revenue v. Mrs. K. Hague

Opposed notification

Commentary – Tax Reporter ¶763-350
Case Law – Balen v. Commissioners of Inland Revenue and Others ; Howard v. Borneman and Others ; Wiseman and Another v. Borneman and Others

Preliminary notification

Commentary – Tax Reporter ¶763-340
Case Law – Balen v. Commissioners of Inland Revenue and Others

Scope of legislation post-24 March 2010

Commentary – Tax Reporter ¶763-100–Tax Reporter ¶763-140

Scope of legislation pre-24 March 2010

Commentary – Tax Reporter ¶763-150–Tax Reporter ¶763-270
Case Law – Commissioners of Inland Revenue v. Garvin Commissioners of Inland Revenue v. Rose

Transactions in securities, meaning

Commentary – Tax Reporter ¶763-050
Case Law – Commissioners of Inland Revenue v. Joiner

Interaction with CGT

Commentary – Tax Reporter ¶763-020
HMRC Guidance – CTM36840
Case Law – Commissioners of Inland Revenue v. Garvin Commissioners of Inland Revenue v. Rose

Meaning

Commentary – Quick Overview ¶8755

Overview

Commentary – Quick Overview ¶8750

Partition of investment company by way of distribution

Commentary – Tax Reporter ¶763-840
HMRC Guidance – CG45410 ; SDLTM23015

Partition of property investment company by way of capital reduction

Commentary – Tax Reporter ¶763-850
HMRC Guidance – CG45410 ; SDLTM23015

Relevant consideration

Commentary – Quick Overview ¶8756–Quick Overview ¶8757

Relevant person

Commentary – Quick Overview ¶8756–Quick Overview ¶8757

Sale and repurchase (repos)

– see Sale and repurchase agreements (repos)

Transactions in certificates of deposit

Commentary – Tax Reporter ¶341-500

Transfer of income from securities

Commentary – Tax Reporter ¶341-600
Case Law – Lupton (H.M. Inspector of Taxes) v. F.A. & A.B. Ltd.