Gray's Timber Products Limited v HMRC [2010] UKSC4

1st January 2010

Employment related securities - market value - employee's sale proceeds governed by shareholders' agreement - amount received more than proportionate share of total proceeds on sale of company - whether rights in shareholders' agreement intrinsic or extrinsic to the shares - whether these rights personal to the shareholder - whether personal rights affect market value - whether Revenue guidance of persuasive authority.


Michael Sherry and Alun James appeared for the Appellants.


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Associated Members

Michael Sherry

Alun James