INCOME TAX – self assessment – enquiry into letting income and business profits – whether profits understated – unidentified deposits in private bank account – investment in properties – whether partly funded by family members – held, on facts, no – closure notice confirmed subject to minor amendments as made on review – discovery assessments for previous two years confirmed – penalties under s 95 TMA 1970 confirmed but in reduced amounts – penalty under Sch 36 FA 2008 confirmed – appeal dismissed
Citations:
[2012] UKFTT 630 (TC)
Links:
Jurisdiction:
England and Wales
Income Tax
Updated: 09 February 2022; Ref: scu.466196