Venables v Hornby – pensions victory for early retiree


The Inland Revenue is inherently suspicious of early retirement where employees, but in particular directors, carry on some form of reduced employment or office with the same employer. However, on 4 December 2003, the House of Lords reached its decision in the long-running saga of Venables v Hornby. By a majority of four to one the appeal was allowed and the assessment to tax made against Mr Venables discharged.

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