The Executors of Lord Howard of Henderskelfe (dec) v HM Revenue & Customs FTC/02/2012
| Jurisdiction | UK Non-devolved |
| Judge | MR JUSTICE MORGAN |
| Judgment Date | 11 March 2013 |
| Neutral Citation | [2013] UKUT 0129 (TCC) |
| Respondent | |
| Appellant | |
| Court | Upper Tribunal (Tax and Chancery Chamber) |
| Appeal Number | FTC/02/2012 |
[2013] UKUT 0129 (TCC)
Appeal number FTC/02/2012
Taxation of Chargeable Gains Act 1992, sections 44 and 45 – whether a
valuable painting displayed in Castle Howard was “plant” within section
44(1)(c) of the 1992 Act – whether the painting satisfied the test as to function –
whether the painting satisfied the test as to permanence – whether the painting
was not plant in the hands of the owner who disposed of it when the business in
which the painting was used was not that of the owner of the painting but of a
company, Castle Howard Estate Ltd – whether painting a “wasting asset”
within section 44 of the 1992 Act – whether owner of painting entitled to
exemption from capital gains tax pursuant to section 45(1) of the 1992 Act
IN THE UPPER TRIBUNAL
(TAX AND CHANCERY CHAMBER)
ON APPEAL FROM THE FIRST-TIER TRIBUNAL
(TAX CHAMBER)
Between :
THE EXECUTORS OF LORD HOWARD OF
HENDERSKELFE (DECEASED)
Appellants
- AND -
THE COMMISSIONERS OF HER MAJESTY’S
REVENUE AND CUSTOMS
Respondents
TRIBUNAL: MR JUSTICE MORGAN
Sitting in public at Royal Courts of Justice, Rolls Building, Fetter Lane, London, EC4A
1NL on 29th and 30th November 2012
2
William Massey QC (instructed by Forsters LLP) for the Appellants
Ms Aparna Nathan (instructed by General Counsel and Solicitor for HM Revenue) for the
Respondents
© CROWN COPYRIGHT 2013
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