Applicants
asked Revenue if certain investments would be taxed as capital or income.
asked Revenue if certain investments would be taxed as capital or income.
Revenue
said capital, but later taxed assets as income.
said capital, but later taxed assets as income.
Bingham
LJ:
LJ:
Applicants
must fail if representation in breach of Revenue’s statutory duty.
must fail if representation in breach of Revenue’s statutory duty.
But
representation did not breach Rev’s statutory duty – merely acting in pursuance
of its proper managerial discretion.
representation did not breach Rev’s statutory duty – merely acting in pursuance
of its proper managerial discretion.
In
such circumstances, Revenue could not withdraw from representation if this
would cause substantial unfairness to applicant and if conditions for relying
upon any such representation were present.
such circumstances, Revenue could not withdraw from representation if this
would cause substantial unfairness to applicant and if conditions for relying
upon any such representation were present.
These
conditions were:
conditions were:
–
Applicant should give full details of transaction on which Revenue’s ruling
sought.
Applicant should give full details of transaction on which Revenue’s ruling
sought.
–
Applicant should make it apparent that it was seeking considered ruling which
it intended to rely upon.
Applicant should make it apparent that it was seeking considered ruling which
it intended to rely upon.
–
Ruling must be clear and unambiguous.
Ruling must be clear and unambiguous.
