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Bloomsburry Family law

Law Brief

Waiting for Brexit

Wealth management practitioners will need to pay close attention to the implications of the Leave vote for the Fourth Anti-Money Laundering Directive and to the outcome of the revised DOTAS consultation, write Victoria Mahon de Palacios and Sally Spicer

Newnham College, Cambridge University v Revenue & Customs Commissioners [2006] EWCA Civ 285

The power to allow a right of option to taxation conferred by Art 13C(a) of the Sixth Council Directive 77/388 was a power only exercisable in cases of letting or leasing of immovable property and the provisions of Sched 10 of the Value Added Tax Act 1994, which were enacted pursuant to that power, had to be interpreted with that in mind. Therefore the meaning to be given to occupy and occupation in Sched 10 required more than a right to use the land and required some degree of control over what others who were not also in occupation could do on the land.

(1) Patricia Mary Irvine (2) Michael Cleobury Thatcher & Patricia Mary Irvine (as trustees of the accumulation and maintenance settlement dated 6 August 1993) v (1) Ian Charles Irvine (2) Campbell Irv

Where on the evidence a company was not a quasi-partnership and no exceptional circumstances were applicable, the valuation of shares ordered in relation to a company that was the subject of a petition under s 459 of the Companies Act 1985 should be assessed following the ordinary assumption that a minority shareholding was to be valued as such and that the extent of the discount applicable was a matter for the valuers to assess.

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