Re Commissioners of Inland Revenue v Piacentini Dayman (receiver); Re Criminal Justice Act 1988 and Taxes Management Act 1970
| Jurisdiction | England & Wales |
| Judgment Date | 05 February 2003 |
| Date | 05 February 2003 |
| Court | Queen's Bench Division |
QUEEN'S BENCH DIVISION
Before Mr Justice Lightman.
Proceeds of Crime Receiver who takes possession not accessible for capital gains tax or income tax - Criminal Justice Act 1988 Section 77 - Taxes Management Act 1970 Section 75 and 77 - Proceeds of Crime Act 2002 Section 448 and Schedule 10
A receiver appointed under section 77 of the Criminal Justice Act 1988 to take possession of and manage the property and affairs of an individual who had been charged with tax fraud was not assessable for capital gains tax or income tax, nor was such tax payable as an expense of the receivership.
Mr Justice Lightman, sitting in the Queen's Bench Division, so held making a declaration in favour of Sara Elizabeth Dayman, the receiver, on her application to the court for guidance as to whether or not she was personally assessable to capital gains tax or income tax in respect of realisations made during the course of the receivership of Peter Piacentini, the defendant, and whether such tax was payable as an expense of the receivership.
The Inland Revenue Commissioners had instigated the receivership in September 1995 by apply for a restraint order against the defendant. The receiver had been appointed under that restraint order.
Mr Simon Johnson for Ms Dayman; Mr James Dennison for the commissioners; Mr Piacentini took no part in the case.
MR JUSTICE LIGHTMAN said that in 1994 the defendant was charged with tax fraud. On the application of the commissioners and by a restraint order, dated September 20, 1995 made under section 77 of the Criminal Justice Act 1988, Ms Dayman was appointed to take possession of and receive and manage the property and affairs of the companies controlled by Mr Piacentini.
On September 10, 1998 following his trial and conviction a confiscation order was made in the sum of Pounds 2.1 million. The receiver thereupon sold the assets the subject of the receivership.
On April 26, 2000 the confiscation order was satisfied by the full payment of Pounds 2.1 million to the justices' chief executive of Uxbridge Magistrates Court, of which just over Pounds 2 million was paid by the receiver out of the proceeds of sale.
The receiver then issued the application seeking directions as to whether she was assessable to capital gains tax or income tax in respect of realisations of or...
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