Financing in UK Law

Leading Cases
  • Camas Plc v Atkinson (Inspector of Taxes)
    • Chancery Division
    • 07 Julio 2003

    They also carried out an assessment of the borrowing requirements in the event that the takeover offer succeeded. Together with Schroders and Warburgs they attended a number of board meetings. Shearman & Sterling advised on US anti-trust issues and provided an analysis of the impact of US securities laws. FPC Greenaway are printers and their services related to printing the offer documentation, listing particulars, circulars to shareholders and some press releases.

    I am unable to see how the cost of any of this can fairly be described as part of the cost of acquisition in the sense that brokerage fees, payments for financing and stamp duty obviously are, and the Special Commissioners have reached their conclusion, in my judgment, by asking themselves the wrong question.

  • Volkswagen Financial Services (UK) Ltd v Revenue and Customs Commissioners
    • Court of Appeal (Civil Division)
    • 28 Julio 2015

    The dispute about the recoverability of residual input tax in relation to the taxable supplies of vehicles centres on the fact that none of the relevant portion of overheads attributable to the retail sector is recovered as part of the price of the vehicle.

  • Crema v Cenkos Securities Plc
    • Queen's Bench Division (Commercial Court)
    • 16 Marzo 2010

    In my judgment the sense of this letter, and of the earlier letters and discussions, is that as broker and sub-broker, Cenkos and Mr Crema were in it together. Any other arrangement would be rather uncommercial, placing the whole risk of non-payment by GPV on Cenkos. There was an expected fund of brokerage to be received from GPV. They would share in it 70:30 in relation to investments raised by Mr Crema.

  • Commissioners of Customs and Excise v Redrow Group Plc
    • House of Lords
    • 11 Febrero 1999

    Once the taxpayer has identified the payment the question to be asked is: did he obtain anything - anything at all - used or to be used for the purposes of his business in return for that payment? This will normally consist of the supply of goods or services to the taxpayer. But it may equally well consist of the right to have goods delivered or services rendered to a third party.

  • Aluminium Industrie Vaassen B.v v Romalpa Aluminium Ltd
    • Court of Appeal (Civil Division)
    • 16 Enero 1976

    I see no difficulty in the contractual concept that, as between the appellants and their sub-purchasers, the appellants sold as principals, but that, as between themselves and the respondents, those goods which they were selling as principals within their implied authority from the respondents were the respondents' goods which they were selling as agents for the respondents to whom they remained fully accountable.

  • Astor Management AG (formerly known as MRI Holding AG) and Another v Atalaya Mining Plc (formerly known as Emed Mining Public Ltd) and Others
    • Queen's Bench Division (Commercial Court)
    • 06 Marzo 2017

    There is nothing to prevent EMED Tartessus, if it has the cash available, from paying the Deferred Consideration even though the Deferred Consideration has not become due for payment. Indeed, clause (6)(d)(iv)(B) specifically requires EMED Tartessus to apply any excess cash for this purpose.

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Books & Journal Articles
  • Financing rebellion
    • Nbr. 54-2, March 2017
    • Journal of Peace Research
    A prominent explanation of the resource–conflict relationship suggests that natural resources finance rebellion by permitting rebel leaders the opportunity to purchase weapons, fighters, and local ...
  • Review: Financing Development
    • Nbr. 64-2, June 2009
    • International Journal
  • Counter Terrorism Financing
    • Nbr. 6-3, September 2015
    • New Journal of European Criminal Law
  • Ten myths about terrorist financing
    • Nbr. 12-2, May 2009
    • Journal of Money Laundering Control
    • 189-205
    Purpose: The purpose of this paper is to present ten myths of terrorist financing policy. Design/methodology/approach: It is argued that post 9/11 literature on terrorism misunderstands the relati...
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Law Firm Commentaries
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Forms
  • Chapter CFM91020
    • HMRC Guidance manuals
    • Formularios de Derecho Civil, Mercantil y Registral
    ......Second, the financing expense amounts and financing income amounts must be determined. Guidance on establishing the company’s financing expense amounts is at CFM91030. ......
  • Chapter CFM92830
    • HMRC Guidance manuals
    • Formularios de Derecho Civil, Mercantil y Registral
    ......Interaction between TIOPA10/PT7/CH5, CH7 and CH8. TIOPA10/PT7/CH5 is a self-contained provision with its own definition of ‘financing income amounts’ (CFM92820). TIOPA10/S305(6), however, expressly states that the provisions of Chapter 7 apply to amounts that are financing income ......
  • Chapter CFM91210
    • HMRC Guidance manuals
    • Formularios de Derecho Civil, Mercantil y Registral
    ...... . This guidance applies to worldwide group periods of account ending before or straddling 1 April 2017. Disregarding financing income - overview. In addition to determining the financing expense amounts of relevant group companies (see CFM91030), it is also necessary to ......
  • Chapter CFM91230
    • HMRC Guidance manuals
    • Formularios de Derecho Civil, Mercantil y Registral
    ...... . This guidance applies to worldwide group periods of account ending before or straddling 1 April 2017. Establishing the financing income amounts. The net financing income is the sum of the relevant group company’s financing income amounts for the period less the sum of the ......
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