Financing in UK Law

Leading Cases
  • Volkswagen Financial Services (UK) Ltd v Revenue and Customs Commissioners
    • Court of Appeal (Civil Division)
    • 28 Jul 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 Mar 2010

    The e-mail is not well written but, as I read it, Mr Crema was recognising that from his point of view (“hence me”) it was critical that GPV/V-Fuels was bound to Cenkos, otherwise he would not be paid. If he thought that the arrangement was that he was entitled to be paid whatever happened between GPV and Cenkos, it is difficult to see why he would have raised the point with Mr Nally.

    The telephone conversation of 29 January in my view confirms that, as the parties saw it, there was to be a brokerage fund of 5%. If Mr Crema was successful with Hutton Collins, and therefore produced most of the investment, the 5% would be cut in his favour. Shortly after that the cut agreed was 70:30.

    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 Feb 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 Jan 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.

  • Thomas Crema v Cenkos Securities Plc
    • Court of Appeal (Civil Division)
    • 20 Jan 2011

    (3) The question of implication of terms only arises when the instrument does not expressly provide for what is to happen when some particular (often unforeseen) event occurs. that something is to happen in that particular event which is not expressly dealt with in the instrument's terms, then it is said that the court implies a term as to what will happen if the event in question occurs.

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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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