Foundation Partners (Gp) (A Firm) v Revenue and Customs (Income Tax – Partnership Established for Purposes of Constructing A Building In Montenegro): FTTTx 26 Jan 2021

INCOME TAX – partnership established for purposes of constructing a building in Montenegro – claims for sideways loss relief by partners – whether activities of Appellants amounted to a trade – if a trade, whether various payments were trading expenses – basis on which Appellants should calculate any trading loss – application of paragraph 51 of FRS 5 to Appellants’ accounts – ss 25, 26, 33, 34 ITTOIA 2005


[2021] UKFTT 18 (TC)




England and Wales

Income Tax

Updated: 09 December 2022; Ref: scu.661736