The Weekly Law Reports
[1978] 3 WLR 609
[COURT OF APPEAL]
O'BRIEN (INSPECTOR OF TAXES)
v.
BENSON'S HOSIERY (HOLDINGS) LTD.
1978 April 17,
18,
19;
May 12
May 12
Buckley and Bridge L.JJ. and Sir David Cairns
Revenue— Capital gains tax— Disposal of assets— Service contract— Payment to employer by employee to secure release from service contract— Whether employer's rights under service contract “asset”— Whether capital sum giving rise to chargeable gain received by employer on disposal of assets—
Finance Act 1965 (c. 25), s. 22 (1) (3)