Inland Revenue appeal

Inland Revenue appeal

– The House of Lords is considering whether to allow an appeal by the Commissioners of the Inland Revenue which will entail a probe into the provisions of Chapter III (Transfer of Assets Abroad) of part XVII (Tax Avoidance) of the Income and Corporation Taxes Act 1988. The question raised is whether these provisions apply to income from personal portfolios of investments. So far the Commissioner for Special Purposes of Income Tax and the Court of Appeal have found in favour of the taxpayer in this case. Now the revenue has sought leave to appeal and the Lords have adjourned their decision to give the respondent an opportunity to lodge objections to such an appeal.

Mock auction hearing

– A rare court action is in the pipeline in Warwickshire. The first hearing has been scheduled for 15 September at Stratford Magistrates Court where the county's trading standards department is prosecuting a market trader for running mock auctions.