FTTTx Income tax – Whether payment made to the Appellant constituted emoluments – When the Appellant had not referred to the receipt in his tax return, whether an assessment could validly be made out of time on the basis of asserted neglect by the Appellant in not seeking tax advice as to whether the receipt constituted income – if the receipt constituted emoluments and the assessment was validly made, whether the penalties charged were excessive – Appeal allowed
Nowlam
[2012] UKFTT 411 (TC)
Bailii
England and Wales
Income Tax
Updated: 01 November 2021; Ref: scu.462786