The Law Reports (Appeal Cases)
[1980] AC 562
[HOUSE OF LORDS]
O'BRIEN (INSPECTOR OF TAXES) APPELLANT AND BENSON'S HOSIERY (HOLDINGS) LTD. RESPONDENT
1979 July 2,
3;
Oct. 25
Oct. 25
Lord Diplock, Viscount Dilhorne, Lord Simon of Glaisdale, Lord Fraser of Tullybelton and Lord Russell of Killowen
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)