Capital Gains Tax – Agreement for Grant of Lease On Payment of Premium – taxpayer paid deposit at time of contract as part payment of premium due on completion – taxpayer defaulted on next stage payment of premium and so contract rescinded – was the lost deposit an allowable loss? – Hardy (Upper Tribunal), Lloyd-Webber (First-tier Tribunal) and Underwood (Court of Appeal) considered –
Held: the Tribunal was bound by the decision of the Upper Tribunal in Hardy – appeal dismissed
Citations:
[2022] UKFTT 25 (TC)
Links:
Jurisdiction:
England and Wales
Capital Gains Tax
Updated: 26 April 2022; Ref: scu.675620