In English v Keats, a deed of appointment intended to achieve tax advantages, which was not correctly executed, was rescued by the ancient equitable doctrine in Tollet v Tollet. In Moorthy, it was held that the income tax exemption for termination payments made on account of injury to an employee included injury to feelings. In Goode Cuisine, relief from the 15% SDLT rate for corporates buying residential property was not available to a company acquiring a dwelling for conversion to seven letting rooms as part of its bed and breakfast business. In Raftopoulou, the defence of reasonable excuse could not apply to a late claim for repayment of tax.
The government has published a consultation relating to payments on account of residential property gains; it has also launched a policy paper on the new income tax allowances for property and trading income; and we still await confirmation on EU state aid approval for EMI share options.
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