The Weekly Law Reports
[1978] 1 WLR 1457
[CHANCERY DIVISION]
NOBLE (INSPECTOR OF TAXES)
v.
LAYGATE INVESTMENTS LTD.
1978 March 3
Oliver J.
Revenue
— Corporation tax
— Close company
— Shortfall assessments
— Company's declared dividends falling short of required standard
— Restriction on amount of dividend contained in articles of association
— Whether restriction “imposed by law”
—
Income and Corporation Taxes Act 1970 (c. 10), ss. 289 (1), 290 (4)
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