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Income tax – Charge to tax. The Court of Appeal, Civil Division, dismissed the Revenue and Customs Commissioners' appeal concerning whether an employee was liable to income tax in respect of a car leased to him by his employer on arm's length commercial terms, including lease charges at full market value. The tribunals had been right to have decided that a charge to income tax arose under Ch 6 of Pt 3 of the Income Tax (Earnings and Pensions) Act 2003 only if the terms on which a car was leased to an employee conferred a benefit on the employee in the ordinary sense of that word, and the employees in the present case had received no such benefit.
Income tax – Charge to tax. The Court of Appeal, Civil Division, dismissed the Revenue and Customs Commissioners' appeal concerning whether an employee was liable to income tax in respect of a car leased to him by his employer on arm's length commercial terms, including lease charges at full market value. The tribunals had been right to have decided that a charge to income tax arose under Ch 6 of Pt 3 of the Income Tax (Earnings and Pensions) Act 2003 only if the terms on which a car was leased to an employee conferred a benefit on the employee in the ordinary sense of that word, and the employees in the present case had received no such benefit.
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Westgate Wealth Management Ltd is a Partner Practice of FTSE 100 company St. James’s Place – one of the top UK Wealth Management firms. We offer a holistic service of distinct quality, integrity, and excellence with the aim to build a professional and valuable relationship with our clients, helping to provide them with security now, prosperity in the future and the highest standard of service in all of our dealings.
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