FTTTx Income tax – Appellant claimed relief against other income for losses incurred in a trade of manicure, pedicure and make up largely carried on by his wife – whether Appellant was carrying on a trade – no – whether any such trade would have been ‘carried on on a commercial basis’ (s 384 ICTA) or ‘commercial’ (s 66 ITA) – no – whether HMRC barred from raising a discovery assessment (s 29 TMA) in view of the information already supplied to Inland Revenue about the conduct of the trade in an earlier enquiry – in relation to 2003-04 yes, otherwise no – appeal allowed in part.
Poole TJ
[2010] UKFTT 272 (TC)
Bailii
England and Wales
Income Tax
Updated: 01 November 2021; Ref: scu.422255