Andrew v Revenue and Customs (Income Tax/Corporation Tax : Anti-Avoidance): FTTTx 5 Mar 2019

INCOME TAX – disposal of gilt strips – determination of loss under paragraph 14A Schedule 13 Finance Act 1996 – whether amount paid by transferee to a person other than the transferor is an ‘amount payable on the transfer’ – yes – profit on transactions arising to trustees of settlement – whether profit should be regarded as income for tax purposes – no – appeal allowed in part

Citations:

[2019] UKFTT 177 (TC)

Links:

Bailii

Jurisdiction:

England and Wales

Income Tax

Updated: 22 October 2022; Ref: scu.635739