Income tax – Section 28A(1) and (2) Taxes Management Act 1970 – appeal against Closure Notice and Revenue Amendment – whether appellant ‘trading’ and whether entitled to deduct payments made to family members to fund property dealings which ultimately proved abortive were an allowable business expense – no – profits correctly assessed by HMRC – … Continue reading Lim v Revenue and Customs (Income Tax/Corporation Tax : Assessment/Self-Assessment): FTTTx 2 Jul 2019
INCOME TAX – discovery assessments – Taxes Management Act 1970 ss. 9A, 12B, 28A, 29, 34, 36 – onus of proof – whether discovery ‘stale’ – whether the condition under s 29(4) met for the ordinary time limit to be extended – income returned on an accruals basis – quantum of insufficiency varied for a … Continue reading Kantopoulos v Revenue and Customs No 2 (Income Tax – Discovery Assessments): FTTTx 19 Jul 2019
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Mr Cotter’s accountants had submitted a second tax return adding claims to loss relief in the following year. The claims were contentious, but he invited a review by the Revenue asserting that the losses wiped out any liability to tax. The Revenue said they would investigate but pursued the tax it said was due in … Continue reading HM Revenue and Customs v Cotter: CA 8 Feb 2012
The taxpayer’s accountants had submitted a tax return amending the taxpayer’s own return adding claims for losses. The accountant acknowledged the contentious nature of the claim and invited a review. The Revenue sought now to recover the tax due under the initial return. Held: The County Court had jurisdiction to determine in collection proceedings whether … Continue reading Revenue and Customs v Cotter: ChD 14 Apr 2011
This appeal asked as to the boundary between the jurisdiction of the First-tier Tribunal (Tax Chamber) and that of the county court or the High Court, and the legality of the approach which the Revenue took to entries which Mr Cotter, had made in a tax return. He had submitted a tax return but then … Continue reading Cotter v Revenue and Customs: SC 6 Nov 2013
INCOME TAX – sideways loss relief for farming losses -application of test in s68(3)(b) Income Tax Act 2007 regarding period for expectation of profitability – appeal allowed. Citations: [2020] UKUT 30 (TCC) Links: Bailii Jurisdiction: England and Wales Income Tax Updated: 19 November 2022; Ref: scu.650128
Charitable Company- Directors’ Status and Duties A married couple set up a charitable foundation to assist children in developing countries. When the marriage failed an attempt was made to establish a second foundation with funds from the first, as part of W leaving the Trust. Court approval was obtained, but the court ordered the remaining … Continue reading Lehtimaki and Others v Cooper: SC 29 Jul 2020
(Hong Kong) At first instance the judge found that the deputy commissioner lacked jurisdiction to make two determinations since he had not done so within a reasonable time required by the imperative language of the statute. The Court of Appeal reversed the decision. Held: The delay on a Commissioners decision took it outside the allowable … Continue reading Wang v Commissioner of Inland Revenue: PC 19 Oct 1994
