.png)
.png)
Issue:
4489
/
Categories:
Comment & Analysis
, Gaines-Cooper
, Mansworth v Jelley
, Capital Gains
, Losses
A successful leave for judicial review over Mansworth v Jelley
KEY POINTS
- Mansworth v Jelley 2003 guidance was changed in 2009 with retroactive effect.
- Argument was that this created a legitimate expectation for taxpayers with cases under enquiry.
- Taxpayer argues that HMRC are bound to apply the guidance in force at the time the claims for capital losses were made.
- Judge grants leave to apply for judicial review.
Many readers will be familiar with the saga of the Revenue change of heart over the case of Mansworth v Jelley [2003] STC 53.
For those who need a brief reminder the case concerned the base cost of shares acquired by an employee who was not resident at the time he was granted share options.
HMRC issued guidance on the basis of this case about options granted when the taxpayer was UK resident throughout.
...
Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.
