Pickles v Revenue and Customs (Whether Crediting A Directors’ Loan Account Which Was Freely Available for The Directors/Members To Draw Upon): FTTTx 22 Apr 2020

Whether crediting a directors’ loan account which was freely available for the directors/members to draw upon constituted a distribution for the purposes of s.1020 of the CTA 2010.
Held: No. Valuation of goodwill for purposes of section 272 (1) of the TCGA 1992. Findlay’s Trustees v Inland Revenue Commissioners [1938] SVC applied. Experts: whether an expert can act as an advocate in the proceedings?
Held: no.
[2020] UKFTT 195 (TC)
Bailii
England and Wales

Updated: 05 September 2021; Ref: scu.651584