Ashcroft v Revenue and Customs: FTTTx 9 Mar 2016

FTTTx Income Tax/Corporation Tax : Assessment/Self-Assessment – Income tax – ITA 2007 ss67(2) and (3), s68 – claim by farmer for trade loss relief against other income -trade losses made consecutively in previous five years – whether reasonable expectation of profit – no – whether sideways relief allowable – no – whether HMRC entitled to issue closure notice – yes – appeal disallowed

[2016] UKFTT 176 (TC)
Bailii
England and Wales

Income Tax

Updated: 13 January 2022; Ref: scu.561871