Tax paid too late

13 December 2010

Issue: 4285 / Categories: Tax cases

Chilcott and others v CRC, Court of Appeal

The taxpayers C and G were employed by the third taxpayer EGS Group. They were granted exercise company share options which they exercised these options in June and December 2001 making substantial unrealised gains.

The company was unable to operate PAYE on the notional gains received by C and G since it was not making a payment of money to them from which tax could be deducted.

In light of that TA 1988 s 203J (now ITEPA 2003 s 710) stated that the employer should account for the tax from other payments made at the same time as the notional payment.

If there was insufficient salary to cover the PAYE TA 1988 s 144A (rewritten as

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Tax paid too late

13 December 2010

Chilcott and others v CRC, Court of Appeal

In light of that TA 1988 s 203J (now ITEPA 2003 s 710) stated that the employer should account for the tax from other payments made at the same time as the notional payment.

If there was insufficient salary to cover the PAYE TA 1988 s 144A (rewritten as

If you or your firm subscribes to Taxation.co.uk, please click the login box below:

If you are not a subscriber but are a registered user or have a free trial, please enter your details in the following boxes:

Subscribe Now...

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.

Once you have registered, you will receive an email directing you back to read this item in full.

Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.

Issue:

4285

Categories: Tax cases [1]

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Tax paid too late

Tax paid too late

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