Market leading insight for tax experts
View online issue

Case review: Grays Timber Products Ltd v HMRC

Speed read

Speed Read: The following conclusions can be drawn from the recent Supreme Court case Grays Timber Products Ltd v Revenue and Customs Commissioners [2010] UKSC 4: Share rights that are purely personal to a shareholder will not affect the market value of shares for ITEPA 2003 Pt 7 Ch 3D. The questions of whether share rights in a shareholders' agreement which automatically benefit a purchaser are to be treated separately from the underlying shares when assessing the Chapter 3D market value and, if so, whether such rights are themselves separate employment-related securities, are still open. To avoid any Chapter 3D issues, the safest course is still to draft share rights as class rights in the articles.

If you or your firm subscribes to, please click the login box below:

If you do not subscribe but are a registered user, please enter your details in the following boxes:

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 article in full.
Please reach out to customer services at +44 (0) 330 161 1234 or '' for further assistance.