References: [2013] UKUT 225 (TCC)
Links: Bailii
Coram: Norris J
UTTC INCOME TAX – claim for loss on disposal of loan stock – whether loan stock a ‘relevant discounted security’ – FA 1996, Sch 13, para 3 – whether additional payment on redemption of loan stock was interest – yes – appeal dismissed.
This case cites:
- Appeal from – Pike -v- Revenue & Customs FTTTx ([2011] STI 1990, [2011] SFTD 830, Bailii, [2011] UKFTT 289 (TC))
FTTTx Income tax – whether a security was a relevant discounted security – security paying on redemption a sum calculated as 7.25% per annum accruing daily – whether ‘interest’ includes sums not paid periodically . .
This case is cited by:
- Appeal from – Pike -v- HM Revenue and Customs CA (Bailii, [2014] EWCA Civ 824)
The taxpayer challenged rejection of his claim for a loss relief arising from a ‘relevant discounted security’ within the meaning of Schedule 13 to the Finance Act 1996.
Held: It would only be such if, taking the security as at the time of its . .
