Case Law

This page shows a summary of relevant case law. To view the section of legislation to which the case law applies, click the link below:

Case Law

In Loffl and Bros North Sea Inc v Goodbrand 1998 STC 930 it was held that consideration is to be converted at date of contract and not date of receipt and that no bad debt relief can be claimed for the exchange loss between date of contract and date of receipt.

The case of Oram v Johnson 1980 STC 222 established that expenditure on the cost, or enhancement, of an asset does not include the notional cost of the taxpayer’s own labour.

Where the acquisition and disposal cost of an asset are in a foreign currency, the computation of the chargeable gain or allowable loss must include any foreign exchange gain or loss. Bentley v Pike 1981 STC 360

Fees paid to a valuer which were attributable to negotiations with the UK Revenue and to the conduct of an appeal, were not allowed as a deduction for the purpose of the capital gains tax computation. Couch v Caton’s Administrators 1996 STC 201

This appeal concerned a claim for principle private residence relief and apportionment for the period the taxpayer lived in the property as his principle private residence. 63TACD2020