FTTTx Income tax – unauthorised payment charge – section 207 FA04 – scheme funds invested at scheme member’s direction in preference shares of finance company as part of arrangement providing for loan from a third party lender to pension scheme member – whether loan to scheme member was unauthorised member payment under section 160(2) FA04 – whether loan was a ‘payment’ – held yes – whether the payment was ‘made . . in connection with’ the preference shares acquired using scheme assets under section 161(3) FA04 – held yes – appeal dismissed
[2016] UKFTT 3 (TC)
Bailii
England and Wales
Income Tax
Updated: 09 January 2022; Ref: scu.558254