Income Tax; Closure Notice; Discovery Assessments; whether Appellant overcharged by assessments; whether Appellant negligently delivered incorrect returns; omission of sales; adequacy of business records; method of calculation of turnover and profit; takings build-up; relevance and calculation of funds obtained through gambling; applicability of Retail Price Index to takings build-up for year of enquiry to other years of assessment; presumption of continuity; onus of proof; Taxes Management Act 1970 ss. 8, 12B, 19A, 29, 36(1), 50(6), and 95; whether assessments should stand good – No; whether assessments should be reduced – Yes; appeal allowed in principle.
Citations:
[2011] UKFTT 756 (TC)
Links:
Jurisdiction:
England and Wales
Income Tax
Updated: 23 October 2022; Ref: scu.450856
