LAND AND PROPERTY: Court Rejects First Refusal Claim for Below-Market Offer

August 26, 2024by Admin

LAND AND PROPERTY: In Matthews v Matthews (2024 EWHC 2182 Ch), a solicitor acting on behalf of an elderly farmer attempted to sell some of his land to cover tax bills and care fees. This sale was challenged by the farmer’s second cousin, who claimed a prior right of first refusal at market price. The court rejected the cousin’s claim as his offer was lower than an existing GBP5.8 million offer, thereby not reflecting the ‘full market value’.

 

TAXATION: UBS Succeeds in Judicial Review Against HMRC

The Upper Tax Tribunal has ruled in favour of UBS in its judicial review against HMRC’s decision requiring a GBP 13.5 million deduction from a former employee’s remuneration. UBS challenged HMRC’s attempt to stay proceedings, arguing that a new tax inspector would re-evaluate the decision. The tribunal found HMRC’s actions wrong but did not grant the mandatory, declaratory, and quashing orders requested by UBS (UBS AG v HMRC and Jonathan Wood, 2024 UKUT 00242 TCC).

 

CHARITIES: Trustees Disqualified for Cash-Based Operations

The Charity Commission for England and Wales has disqualified four Christian charity Salvation Proclaimers Ministries trustees for at least ten years. This action follows the discovery of ‘serious misconduct’ related to financial mismanagement, including the majority of income and expenditure being handled outside a bank account. The charity ceased fundraising in 2019 and has been removed from the register.

 

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