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Chapter CG13074

Document Cited authorities 2 Cited in Related
Vincent
Published date12 March 2016
Record NumberCG13074
CourtHM Revenue & Customs

These instructions tell you about a particular type of statutory compensation, see CG12985+, which was introduced in the late 1960’s. While it is very unlikely that you will have to deal with a case involving this actual type of compensation, the general principles still apply. Current examples of this type of compensation include the foreign compensation cases which CG13055+ tell you about.

Compensation/levy payments

The Docks and Harbours Act 1966 established a licensing system designed to reduce the number of port employers. Compensation was payable under the Act to those employers who were refused licences. That was then recovered, by way of a levy, from those employers who were awarded licences.

Compensation which was paid to the employers who were refused licences was treated as a capital sum, under what is now TCGA92/S22 (1), which was derived from the goodwill of the business, so that a business which failed to...

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