The Weekly Law Reports
[1975] 2 WLR 326
[CHANCERY DIVISION]
INLAND REVENUE COMMISSIONERS
v.
MONTGOMERY
1974 Dec. 9,
10
Walton J.
Revenue
— Capital gains tax
— Disposal of asset
— Insurance compensation on damaged property
— Assignment of rights under insurance policies in consideration for capital sum
— Whether capital sum “derived” from disposal of assets held by assignor
— Whether transaction exempted from charging provisions
—
Finance Act 1965 (c. 25), ss. 19 (1) (3), 22 (3), Sch. 7, para. 10 (as amended by Finance Act 1966 (c. 18), s. 43, Sch. 10, para. 11)
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