Azam v Revenue and Customs: FTTTx 14 Jan 2011

INCOME TAX – losses from activities related to eleven properties purchased by Appellant and subsequently let – Appellant contending that properties were purchased with the intention of being sold at a profit within a short period, and were let temporarily when it became apparent that a deterioration in the property market made sale at a profit temporarily impossible – whether losses were a ‘trade loss’ (Income Tax Act 2007 s.64) or a ‘loss in any trade’ (former Income and Corporation Taxes Act 1988 s.380) – in the circumstances of the case, no


[2011] UKFTT 50 (TC)




England and Wales

Income Tax

Updated: 28 January 2022; Ref: scu.442786