The Law Reports (Chancery Division)
[1979] Ch 152
[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)