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Mansworth v Jelley

The Mansworth v Jelley case in 2002 had a significant impact on the treatment of capital gains tax on employee share options. On this page you can find articles and online resources providing judgments, articles and commentary.

2014 update

HMRC PTCIP decision
A 2014 update from the ICAEW Tax Faculty, reporting HMRC's Personal Tax Contentious Issues Panel (PTCIP) decision on Mansworth v Jelley. The Panel considered the circumstances in which HMRC will allow a claim for capital losses calculated on an earlier interpretation of the case.

Featured article

Taxpayers expect...
Taxation, 19 February 2015, p.16-18
A report on a judicial review hearing by a taxpayer affected by Mansworth v Jelley. To request a copy of this article please contact the Library.

Chronology and analysis

The latest twist in the Mansworth v Jelley tale
1 August 2017
Blog post from Stephen Daly following the Court of Appeal's judgement in favour of HMRC in the Hely-Hutchinson case. The case pertains to Mansworth v Jelley and how a party is affected when it relies on a published position that HMRC has subsequently revised. The blog post includes links to the author's prior coverage of the case.

Judicial review in favour of taxpayer in Mansworth v Jelley loss claim
14 November 2016
Very short summary of the judicial review decision in favour of Hely-Hutchinson in respect of their Mansworth v Jelley loss claim

Are you going to be, Revenue, fair?
1 February 2016
Article from Tax Adviser magazine in which Keith Gordon lays out the implications of HMRC's stated position and the details of the High Court's decision on Hely-Hutchinson.

A degree of unfairness
27 January 2016
Report from Taxation magazine on Hely-Hutchinson's victory in the judicial review case relating to the HMRC guidance issued following the Mansworth v Jelley decision. Covers the legal reasoning behind the judgement.

The Queen on the Application of Ralph Hely-Hutchinson v HMRC
17 November 2015
Tax Journal article on the outcome of the case and its context within the law and HMRC guidance.

The Queen on the Application of Ralph Hely-Hutchinson versus HMRC
11 November 2015
Full text of the High Court judgement, published by BAILII.

Taxpayers expect...
18 February 2015
Report from Taxation magazine on Hely-Hutchinson's successful application for judicial review over Mansworth v Jelley.

Mansworth v Jelley update 2014
17 June 2014
ICAEW tax blog on the saga of Mansworth v Jelley as it stood in June 2014.

Legitimate expectation and reliance on HMRC guidance (Tax Guide 03/13)
March 2013
ICAEW Technical Release featuring minutes of two meetings between concerned external stakeholders and HMRC on Mansworth v Jelley and general issues surrounding legitimate expectation and reliance on HMRC Guidance.

Revenue & Customs Brief 60/09: Questions arising from Revenue & Customs Brief 30/09
11 September 2009
Briefing issued by HMRC in response to questions on the practical implications of the previous brief.

Jelley wobbles (again)
10 June 2009
Article from Taxation magazine remarking on HMRC's late change of heart over capital gains tax on pre-April 2003 employee share options.

Revenue & Customs Brief 30/09: Shares acquired before 10 April 2003 by exercising employee share options – allowable deductions
20 March 2009
Briefing issued by HMRC on 20 March 2009.

REV BN 31: Capital Gains: Options and the Market Value Rule
9 April 2003
The Budget Note closing the loophole opened by the Mansworth v Jelley case for share option exercises after 10 April 2003.

High earners urged to amend tax returns and enjoy CGT windfall
21 January 2003
Daily Telegraph article on the implications for earners of the Mansworth v Jelley decision.

Her Majesty's Inspector of Taxes v Jelley [2002] EWCA Civ 1829 (12 December 2002)
12 December 2002
Full text of the Court of Appeal judgment, published by BAILII.

Articles and books in the Library collection

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