David Bird considers written agreements, the main provisions of the Perpetuities and Accumulations Bill, the new tax tribunal system, interest rates and the highlights of the Budget

There have been a couple of recent cases where the court has given effect to the provisions of a written agreement and has dismissed any suggestion that the parties may have intended a different effect, on the basis that if they had intended a different effect, they would have made that clear in the original agreement.

Share sale agreements

Revenue & Customs Commissioners v Collins [2009] EWCH 284 (Ch) concerned the extent of the consideration for capital gains tax purposes on the sale of shares in a private company. The sale by the shareholder was part of the sale of the whole issued share capital of the company to an external purchaser.

The share sale agreement provided that on completion there...

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