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Watch OldCo 'big tax case' live today and tomorrow


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Thornhill now finished but makes an important point when he heads off the enemy who earlier said they would submit WRITTEN points later. Thornhill says he wants to see the paperwork before it goes to the judges.

Not as blunt as that but he covered it well.

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Thornton may be boring but he has an encyclopedic knowledge and has actually argued some of the past cases that are adduced in evidence. I think he's quite convincing. I didn't hear the HMRC argument but he's really belittling their case especially on PAYE.

 

Benefits in Kind

 

1) One exclusion is beneficial loans to employees which may have a charge in lieu of interest but not a benefit in kind charge.

2) What was created were 108 different trusts; but drafted in a general way with potential and replacement beneficiaries, so do not exhaust the sub-trust, so are not subject to tax because you can't say that they only exist to benefit the employee or his family.

3) Even if only members of the family could benefit; there is a possibility of double taxation.

4) The general thrust of the benefits in kind legislation is for actual benefits, which don't exist in this case.

 

I agree that Lord Carnwarth seems to agree with most of our arguments.

 

Court adjourned.

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She must be loaded ! :bouncy2:

It's a name they are using for "an example" of a person/employee/relative/whatever who benefited from the scheme.

 

So why use a fictional name rather than use one of the named staff members, is there a reason for this?

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