The Weekly Law Reports
[1977] 1 WLR 1227
[CHANCERY DIVISION]
INLAND REVENUE COMMISSIONERS
v.
PLUMMER
1977 June 22,
23;
July 1
July 1
Walton J.
Revenue
— Tax avoidance
— Sale of annuity to charity
— Surtax payer selling five-year annuity to registered charity
— Yearly sum equalling £500 after deduction of income tax in consideration for payment of capital sum of £2,480
— Whether payment of “any annuity or other annual payment”
— Whether yearly payments made for “valuable and sufficient consideration”
— Whether scheme expressly designed to avoid income tax falling within statutory definition of “settlement”
— Whether yearly payments deductible from total income for tax purposes
—
Income and Corporation Taxes Act 1970 (c. 10), ss. 52 (1), 434, 454 (3), 457