Mullens v Revenue and Customs (Income Tax – Whether Certain Large Payments Made To The Appellant Were Taxable As Income): FTTTx 4 May 2021

With one exception (the Holiday Payment) yes, were taxable as income DISCOVERY ASSESSMENTS- Whether discoveries were made to justify the bringing of assessments? – Yes, including under the extended time limit for fraud VALUE ADDED TAX (treated as CUSTOMS DUTY) – Whether a Post Clearance Demand form C18 issued in relation to diamonds brought into the UK from Switzerland was issued within a reasonable time, even if not within three years of the importation? – Yes CAPITAL GAINS TAX – Whether jewellery belonged to the Appellant or to his wife for taxation purposes? – To the Appellant – Whether Appellant entitled to claim CGT losses when that jewellery was stolen? – Yes PENALTIES – Payments not declared on income tax returns – TMA 1970 section 95 – Whether conduct fraudulent, or negligent? Fraudulent; FA 2007 Schedule 24 – Whether conduct deliberate, or careless? With the exception of one payment, deliberate
[2021] UKFTT 131 (TC)
Bailii
England and Wales

Updated: 17 October 2021; Ref: scu.663729