Harley v Harley [2022] WTLR 953
Wills & Trusts Law Reports | Autumn 2022 #188The pursuer was the son of the deceased who had not been provided for in his father’s will. The defender was the widow and remaining executrix-nominate of the deceased. The pursuer obtained a legal rights calculation from the defender’s solicitors in the sum of £227,542.24 and averred this was finalised save for professional fees to be calculated by an independent auditor of court and law accountant. The calculation was based in the main on an ‘in house’ valuation of shares held by the deceased in Alexander Harley Seeds Ltd, which made no provision for a minority shareholder discount, bu...
Dwan & ors v Commissioners for HMRC [2022] WTLR 501
Wills & Trusts Law Reports | Summer 2022 #187Five shareholders of Taskcatch plc made gifts of shares in the company to various charities and then claimed tax relief on the basis of the value of such shares at the dates of the gifts. Mr Dwan gifted 500,000 shares on 31 March 2003 and claimed relief on the basis of their value being 32.5p per share. On 31 March 2003, a small trade of shares in Taskcatch plc was registered on AIM at a price of 32.5p per share. Also on 31 March 2003, shares in Taskcatch plc were issued at the implied price of 7p per share to the vendors of a company that was being acquired. On 5 October 2004, Mr and Mr...
Erdal v HMRCC [2011] UKFTT 87 (TC)
Wills & Trusts Law Reports | December 2011 #115E owned shares in a company involved in the manufacture of paper. E owned 17,131 ordinary shares and 53,476 A shares in the company. A charitable trust owned the majority shareholding in the company and the terms of the trust meant that it was unlikely that the company would ever be floated. The A shares were non-voting. The company’s articles restricted the sale or other transfer of the company shares.
The question at issue was the value of those shares as at 31 March 1982 for the purposes of Capital Gains Tax (CGT). E appealed against assessments in respect of CGT in the ...