Tony Vandervell

Guy Anthony "Tony" Vandervell (8 September 1898 – 10 March 1967) was an English industrialist, motor racing financier, and founder of the Vanwall Formula One racing team.

Motorsport

Vandervell was the son of Charles Vandervell, founder of CAV, later Lucas CAV. He made his fortune from the production of Thin-Wall bearings, under licence from the American inventor, by his company Vandervell Products. Having raced both motorcycles and cars a number of times in his younger days, soon after the end of World War II he acquired a Ferrari 125, powered by a 1.5-litre Colombo engine, which was altered by his mechanics and competed as the Thinwall Special, reflecting Vandervell's business empire. This was initially intended to be run as an evaluation of the Thinwall bearing, to be used as a research exercise by British Racing Motors (BRM).[1] To that end, the car was a success, and Vandervell even provided a detailed critique of the car's flaws back to Enzo Ferrari himself.

Between 1949 and 1953, there were four different Thinwall Specials. Though one of the first financial backers of BRM, Vandervell rapidly became disenchanted at the way in which Raymond Mays was running the team and in 1951, after the second Ferrari-based Thinwall Special had been evaluated, he decided to go his own way. He started to build a team, based in his Acton factory, that would be capable of designing and running its own 2.5L Formula One entry in 1954. Vandervell was nothing if not ambitious and brought in both Norton (of which he was a director)[2] and Rolls-Royce as engine consultants. In the intervening years two more Ferraris found themselves transformed into Thinwall machines, often acting as rolling test-beds for innovative components such as Dunlop disc brakes.

On completion of the engine, it was decided to run it in a chassis commissioned from the Cooper Car Company. Designed by Owen Maddock, the chassis was delivered to Vandervell in early 1954. This car – the Vanwall Special, a portmanteau of Vandervell's and his product's names – was entered into the non-championship International Trophy race on 15 May. It wasn't until July that the car had its first World Championship outing in the 1954 British Grand Prix, driven by Peter Collins, where it failed to finish. The car competed in two further races that season, finishing 7th in Italy, but Collins wrapped it around a tree in practice for the season-closing Spanish Grand Prix. Vandervell reinforced his renamed Vanwall team for 1955, bringing in Mike Hawthorn and Ken Wharton as drivers, but only scored minor victories in the two newly constructed machines.

In 1956 Vandervell drafted in Colin Chapman, Frank Costin and Harry Weslake on the engineering side. Even over the brief duration of his involvement with the sport, it was this ability to spot new talent that marked Vandervell out as one of the most successful and influential F1 team owners. The 1956 car, built fully in-house, took Vanwall's first major victory in the International Trophy early in the year, in the hands of Stirling Moss. Unfortunately, the rest of the season failed to live up to this early promise. Moss was joined by Tony Brooks for the 1957 Formula One season, and the pair shared Vanwall's first World Championship victory in the 1957 British Grand Prix. Moss took two further victories that season, laying a foundation for the team's zenith year: 1958.

The Vanwall team won six of the 1958 Formula One season's eleven races, Moss and Brooks sharing equally with three apiece. Good driving by the whole team, including third driver Stuart Lewis-Evans, won Vanwall the Constructors' Championship, beating BRM to this milestone by four years; a vindication of Vandervell's decision to split with Raymond Mays's organisation. However, this even spread of points among the team allowed Hawthorn, by then in a Ferrari, to snatch the Drivers' Championship from Moss by just 1 point. Sadly, the achievement was clouded by the death of Stuart Lewis-Evans from burns sustained in an accident at the Moroccan Grand Prix.

Unfortunately, increasing age and the strains of running a high-profile sporting team had taken its toll on Tony Vandervell's health. Vandervell had been deeply affected by Lewis-Evans's death, and in January 1959 he announced that he would not be continuing with the team. The loss of Vandervell's drive, ambition and money crippled Vanwall, and the team never again won a World Championship race. Vanwall struggled on with a new car in 1959. The same vehicle was run occasionally in non-championship events in 1960, but after 1961 when Lotus experimented with a Vanwall engine in one of their chassis, the Vanwall name disappeared from F1. The last Vanwall car was built to Intercontinental Formula rules for John Surtees in 1962. This series was unsuccessful and Vanwall folded for good, fewer than four years after their world domination.

Tony Vandervell withdrew from public life after leaving Vanwall. He died in March 1967. Just seven weeks earlier he had married his personal secretary, Marian Moore.[3]

Philanthropy

Vandervell donated a large sum of money to the Royal College of Surgeons (RCS) to establish a chair. He implemented a complex tax avoidance scheme. He instructed a bank, orally, to transfer complete ownership of 100,000 A-shares in his company, Vandervell Products, which they held on bare trust for him to the RCS and asked the RCS to grant an option simultaneously to purchase the shares to his trust company, Vandervell Trustees. He then instructed the VP to declare a dividend on the shares.[4] The purpose of this was to avoid paying stamp duty by a written declaration of disposition of equitable ownership, and to avoid any liability for Vandervell to pay surtax on the dividends since the RCS was a charity and thus not liable to pay tax. This led to a leading case in English trusts law, Vandervell v Inland Revenue Commissioners [1967] 2 AC 291.

Unfortunately for Vandervell, his tax avoidance scheme was not successful. In respect of the shares, the Inland Revenue Commissioners (IRC) argued that Vandervell retained an equitable interest (in the shares) and as such, he was liable to pay tax on the value of those shares. This is because, they argued, his oral instruction to the trust company was not capable of transfer of the equitable interest, since it did not comply with the formality requirements specified in s53(1)c of the Law of Property Act 1925, requiring signed writing to evidence the existence of a disposition. The House of Lords held that s53(1)c was not applicable to situations where a beneficiary directs his trustees, by way of his Saunders v Vautier right to do so, to transfer full (legal and equitable: note Lord Browne-Wilkinson's rejection of such terminology in Westdeutsche Landesbank Gironzentralle v Islington LBC) ownership to someone else. As such, Vandervell had successfully divested himself of ownership (legal and equitable) in the shares, notwithstanding that he did so by means of an oral instruction. He was thus not liable to pay tax on the shares.

However, Vandervell was not so fortunate in respect of the option to purchase. The option to purchase a substantial fraction of the company for only £5,000 was extremely valuable. As such, Vandervell, if he retained an interest in it, would have to pay considerable surtax on it. The House of Lords held, by a 3–2 majority, that whilst the trust company had the legal title to the option, Vandervell had not successfully divested himself of an equitable interest in the option. As such, the option was held on a resulting trust for Vandervell. It was held that a resulting trust would arise where equitable interest had not successfully been divested, because an equitable interest cannot merely hang, unattached to an owner. As such, Vandervell was liable to pay surtax on the option.

In a second case, Re Vandervell's Trusts [1974] Ch 269, Vandervell again attempted a tax avoidance scheme in relation to the same shares and the same option. He instructed the tax company to repurchase the shares through the option. Vandervell did not want to pay tax on the option or the shares (the trust of which he would be an object, the trustee being his trust company). The purchase money came from a trust, held by the same trust company but in favour of Vandervell's children. As such, the trust company took themselves as holding the purchased shares on trust for the children. The Court of Appeal of England and Wales held that the option ceased to exist once it was exercised. Thus, there was no disposition and no consequent liability to pay tax. It also held that the children were the equitable owners of the shares, and, as such, Vandervell had divested himself of equitable ownership of the shares.

See also

Notes

  1. ^ Don Capps (18 March 2000). "The Green Comet: the Brief History of the Vanwall". 8W. Retrieved 16 April 2014.
  2. ^ Setright, L. J. K. "Vanwall: The End of an Era", in Northey, Tom, ed. World of Automobiles (London: Orbis, 1974), Vol. 21, p.2461.
  3. ^ "News: The Vanwall Man". Autocar. 126. Vol. (nbr 3710). 23 March 1967. p. 93.
  4. ^ "Vandervell v Inland Revenue Commissioners [1966] UKHL 3". 24 November 1966. Retrieved 11 April 2017.

References

1958 Moroccan Grand Prix

The 1958 Moroccan Grand Prix was a Formula One motor race held at Ain-Diab Circuit, Casablanca on 19 October 1958, after a six-week break following the Italian Grand Prix. It was race 11 of 11 in the 1958 World Championship of Drivers and race 10 of 10 in the 1958 International Cup for Formula One Manufacturers. It is the only time Morocco has hosted a World Championship Grand Prix.

Mike Hawthorn (Ferrari) started from pole position, but Stirling Moss won the race driving for Vanwall. Hawthorn finished second which secured him the World Drivers' Championship. Phil Hill was third, also for Ferrari.

Vanwall made sure of the World Constructors' Championship and both this and Hawthorn's drivers' title were firsts for British teams or drivers.

The race was notable for an accident involving Stuart Lewis-Evans, who died six days later from the burns he sustained.

Arun-class lifeboat

The Arun-class lifeboat was a fast all-weather lifeboat designed by the Royal National Lifeboat Institution (RNLI) for service at its stations around the coasts of the United Kingdom and Ireland. They were operated by the RNLI between 1971 and 2008. Many have been sold to see further service in the lifeboat and coastguard services of other countries.

The class takes its name from the River Arun in Sussex, England.

BRM Type 15

The BRM Type 15 was a Formula One racing car of the early 1950s, and the first car produced by British Racing Motors. The car was fitted with a revolutionary supercharged 1.5-litre British Racing Motors V16 which produced considerably more power than any of its contemporaries.

The distinctive noise of the car made it a favourite with crowds wherever it appeared, but the initial unreliability of the car, its inability to live up to the hype that the project's leading figures had created around it, and the change to Formula Two regulations in 1952 meant the project never achieved the hoped-for level of success on the Grand Prix stage.

Brian Shawe-Taylor

Brian Newton Shawe-Taylor (28 January 1915 – 1 May 1999) was a British racing driver. He participated in 3 World Championship Grands Prix and numerous non-Championship Formula One races. He scored no World Championship points.

Shawe-Taylor was born in Dublin, Ireland, the younger of two sons of Francis Manley Shawe-Taylor (1869–1920), magistrate and high sheriff for the county of Galway, and his wife, Agnes Mary Eleanor née Ussher (1874–1939). His parents were members of the Anglo-Irish ruling classes; he was related to the playwright and co-founder of the Abbey Theatre, Lady Gregory and a cousin of Sir Hugh Lane who founded Dublin's gallery of modern art.Shawe-Taylor started racing before the war, winning the Nuffield Trophy in 1939. After the war he raced an ERA, with which he tried to enter the 1950 British Grand Prix. The organisers deemed his car to be too old, but he managed to take part in the race anyway, by sharing the Maserati 4CL of Joe Fry. The following year, he practiced a Ferrari entered by Tony Vandervell at the 1951 French Grand Prix, but ultimately Reg Parnell drove the car during the race.His entry was accepted for the 1951 British Grand Prix, despite the fact that he was still campaigning his old ERA, and he finished the race in 8th position as the top privateer, albeit six laps down on the winner. He also raced in the 24 Hours of Le Mans that year, sharing an Aston Martin DB2 with George Abecassis, finishing 5th. He was later seriously injured in an accident at Goodwood, when he spun the ERA and was hit by Toni Branca. Shawe-Taylor recovered but his career was ended.

Shawe-Taylor was the younger brother of the music critic Desmond Shawe-Taylor, and the father of the art historian and Surveyor of the Queen's Pictures, the younger Desmond Shawe-Taylor, LVO.

British Racing Motors V16

The British Racing Motors V16 was a supercharged 1.5 litre (90.8 cu in) V-16 cylinder racing engine built by British Racing Motors (BRM) for competing in Formula One motor racing in the immediate aftermath of World War II. Designed in 1947 and raced until 1954–55, it produced 600 bhp (450 kW) at 12,000 rpm, although test figures from Rolls-Royce suggested that the engine would be able to be run at up to 14,000rpm.The very complex engine was exceptionally powerful for the time, but it initially proved a disappointment, possessing poor reliability so that cars either did not start or failed to finish races. In the 1952 Formula One season, after BRM withdrew their V16 engined cars before a race in Turin while attempting to enlist Juan Manuel Fangio, leaving only Ferrari as the main contestants with no effective competition, the racing organisers abandoned the Formula One series and ran the remaining year's races as Formula Two.

Facel Vega Facel II

The Facel Vega 'Facel II' was a French grand touring car produced by Facel Vega between the years 1962 and 1964.

By 1962 the Paris-based company was facing bankruptcy. The Facel II was to be the company's last attempt to create a luxury GT car in the French tradition. Jean Daninos, Facel's founder and president, said of the Facel II, "The HK 500 was the most interesting car we ever made but the Facel II was by far the best. It was totally 'elegant' .The Facel Vega company advertised the Facel II as "Le Coupé 4-places le plus rapide du Monde" ('The Fastest 4-seater Coupé in the World'). Sports Car Graphic described it as a "luxurious brute". Bernard Cahier, a race-driver who tested the car in 1962, said of an early version (without the later limited-slip differential) that "the huge output of the Chrysler engine made it easy to spin wheels at light throttle pressure."

Frank Costin

Francis Albert "Frank" Costin (8 June 1920 – 5 February 1995) was an automotive engineer who advanced monocoque chassis design and was instrumental in adapting aircraft aerodynamic knowledge for automobile use.

GKN

GKN plc is a British multinational automotive and aerospace components company headquartered in Redditch, Worcestershire. The company was formerly known as Guest, Keen and Nettlefolds and can trace its origins to 1759 and the birth of the Industrial Revolution.

List of companies named after people

This is a list of companies named after people. For other lists of eponyms (names derived from people) see Lists of etymologies. All of these are named after founders, co-founders and partners of companies, unless otherwise stated.

Lofty England

Frank Raymond Wilton "Lofty" England (24 August 1911, Finchley, Middlesex – 30 May 1995, Austria) was an engineer and motor company manager from Britain. He rose to fame as the manager of the Jaguar Cars sports car racing team in the 1950s, during which time Jaguar cars won the prestigious 24 Hours of Le Mans race on five occasions. After the company's withdrawal from racing England moved into the mainstream management of Jaguar Cars, later succeeding Sir William Lyons as its chairman and Chief Executive, before retiring in 1974.

Owen Maddock

Owen Richard Maddock (24 July 1925 – 19 July 2000) was a British engineer and racing car designer, who was chief designer for the Cooper Car Company between 1950 and 1963. During this time Maddock designed a string of successful racing cars, including the Formula One World Championship-winning Cooper T51 and T53 models.

The T51 was the first mid-engined car to win either the World Drivers' or Constructors' Championships, feats it achieved in the hands of Jack Brabham in 1959. A year earlier Stirling Moss had taken the first ever Formula One victory for a mid-engined car in another Maddock-designed vehicle: a Cooper T43. In addition to his Formula One work, Maddock also produced race-winning Formula Two, Formula Three and sportscar designs. After leaving Cooper in 1963 Maddock went on to a successful career as an engineering consultant, including a spell as a hovercraft designer working for Saunders-Roe on the Isle of Wight. In his spare time he also enjoyed racing hovercraft, and was a co-founder of the Hovercraft Club of Great Britain.

Away from engineering Maddock was an accomplished jazz musician. Among others, he was a part of Mick Mulligan's Magnolia Jazz Band, playing sousaphone, that featured George Melly on vocals. When the band decided to turn fully professional Maddock preferred to remain an amateur and left the group. He also counted saxophone, bass clarinet and piano among his repertoire, and continued to play and compete in jazz competitions until shortly before his death.

Peter Collins (racing driver)

Peter John Collins (6 November 1931 – 3 August 1958) was a British racing driver. He was killed in the 1958 German Grand Prix, just weeks after winning the RAC British Grand Prix. He started his career as a 17-year-old in 1949, impressing in Formula 3 races, finishing third in the 1951 Autosport National Formula 3 Championship.

Re Vandervell Trustees Ltd (No 2)

Re Vandervell Trustees Ltd (No 2) [1974] EWCA Civ 7 is a leading English trusts law case, concerning resulting trusts.

This was the third decision concerning Tony Vandervell's will. The first was Vandervell v Inland Revenue Commissioners, where the House of Lords was concerned with whether an oral instruction to transfer an equitable interest in shares complied with the writing requirement under Law of Property Act 1925 section 53(1)(c), and so whether receipt of dividends was subject to tax. The second was In re Vandervell's Trusts, which involved the Special Commissioner of the Inland Revenue's ability to amend tax assessments.

Reg Parnell

Reginald Harold Haslam Parnell (2 July 1911 – 7 January 1964) was a racing driver and team manager from Derby, England. He participated in seven Formula One World Championship Grands Prix, achieving one podium, and scoring a total of nine championship points.Parnell, as both a driver and a team manager, had a considerable influence on post-war British motorsport until his premature death in 1964. Parnell raced at Brooklands and was banned following an accident with Kay Petre which ended her racing career. Before the war he bought up racing cars. Once the hostilities had ceased he sold them to form the basis of post-war racing entries. He later raced a whole host of cars before turning to management and taking Aston Martin into Formula 1. Parnell went on to run the Yeoman Credit Racing team with the help of his son Tim who later raced in Formula 1 himself.

Silverstone Circuit

Silverstone Circuit is a motor racing circuit in England located next to the Northamptonshire villages of Silverstone and Whittlebury.

Silverstone is the current home of the British Grand Prix, which it first hosted in 1948. The 1950 British Grand Prix at Silverstone was the first race in the newly created World Championship of Drivers. The race rotated between Silverstone, Aintree and Brands Hatch from 1955 to 1986, but relocated permanently to Silverstone in 1987.

The circuit also hosts the British round of the MotoGP series.

On 30 September 2004 British Racing Drivers' Club president Jackie Stewart announced that the British Grand Prix would not be included on the 2005 provisional race calendar and, if it were, would probably not occur at Silverstone. However, on 9 December an agreement was reached with Formula One rights holder Bernie Ecclestone ensuring that the track would host the British Grand Prix until 2009 after which Donington Park would become the new host. However, the Donington Park leaseholders, Donington Ventures Leisure, ran into severe financial problems and went into administration, resulting in the BRDC signing a 17-year deal with Ecclestone to hold the British Grand Prix at Silverstone.The escalating costs of the British Grand Prix led to the BRDC triggering a break clause in their contract, meaning that the 2019 British Grand Prix, would be the last at the Silverstone Circuit. Although there was speculation of a round the streets race in London, lengthy negotiations with Liberty Media have led to a new agreement for Silverstone to continue to host the British Grand Prix for a further five years after 2019. News of the new contract was announced at a Press Conference on 10 July 2019.Silverstone is at the centre of a motorsport hub, with their own driving experiences centre, a Porsche Centre and Handling Track, an Aston Martin Test and Development Centre based at the Stowe Circuit, a conference and exhibition facility in the Wing, and soon to be opened Heritage Experience Centre and Hilton Garden Inn Hotel.

Stuart Lewis-Evans

Stuart Nigel Lewis-Evans (20 April 1930 – 25 October 1958) was a British racing driver from England. He participated in 14 Formula One World Championship Grands Prix, debuting on 19 May 1957. He achieved two podiums, and scored a total of 16 championship points. He also achieved two pole positions.

Vandervell v IRC

Vandervell v Inland Revenue Commissioners [1967] 2 AC 291 is a leading English trusts law case, concerning resulting trusts. It demonstrates that the mere intention to not have a resulting trust (for example, to avoid taxes) does not make it so.

This case was the first in a series of decisions involving Tony Vandervell's trusts and his tax liability. It concerned whether an oral instruction to transfer an equitable interest in shares complied with the writing requirement under Law of Property Act 1925, section 53(1)(c), and so whether receipt of dividends was subject to tax. The second was Re Vandervell Trustees Ltd, which involved the Special Commissioner of the Inland Revenue's ability to amend tax assessments. The third was Re Vandervell's Trusts (No 2),[2] which concerned whether Vandervell could be taxed because he could have an equitable interest through a resulting trust if he had exercised an option right.

Vanwall

Vanwall was a motor racing team and racing car constructor that was active in Formula One during the 1950s. Founded by Tony Vandervell, the Vanwall name was derived by combining the name of the team owner with that of his Thinwall bearings produced at the Vandervell Products factory at Acton, London. Originally entering modified Ferraris in non-championship races, Vanwall constructed their first cars to race in the 1954 Formula One season. The team achieved their first race win in the 1957 British Grand Prix, with Stirling Moss and Tony Brooks sharing a VW 5, earning the team the distinction of constructing the first British-built car to win a World Championship race. Vanwall won the inaugural Constructors' Championship in Formula One in 1958, in the process allowing Moss and Brooks to finish second and third in the Drivers' Championship standings, winning three races each. Vandervell's failing health meant 1958 would be the last full season; the squad ran cars in a handful of races in the following years, but finished racing in 1961.

Weymouth Lifeboat Station

Weymouth Lifeboat Station is the base for Royal National Lifeboat Institution (RNLI) search and rescue operations at Weymouth in Dorset, England. The first lifeboat was stationed in the town in 1869. Since 2002 it has operated a Severn-class all-weather lifeboat (ALB) and an Atlantic 75 inshore lifeboat (ILB).

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