High Court proceedings claiming that the provisions of United Kingdom tax legislation restricting group relief to companies resident or carrying on an economic activity in the UK were incompatible with Community law were stayed in the case of companies which had made or could still make a claim for group relief since in such cases the tax appeal commissioners had exclusive statutory jurisdiction.
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(1) A charge over present and future book debts, where the chargor was required to collect and place those debts in a designated account with the chargee bank, but the chargor was free to draw on the account for its business purposes provided the overdraft limit was not exceeded, was in law a floating charge even if it was expressed as being a fixed charge. (2) The unrestricted use by the chargor of the proceeds in the account was inconsistent with a fixed charge since it allowed the debt and ...
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Where a consignment of vodka was released by a taxpayer company from its bonded warehouse under an excise duty suspension arrangement and was subsequently fraudulently diverted, the company was liable to duty in respect of it.
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In default of an indication to the contrary, the parties to a commercial agreement were supposed to have intended that changes to indexes to measure price increases would be made in accordance with the normal commercial practice of index-linking.
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