Schechter v Revenue and Customs: FTTTx 2 Mar 2017

(Income Tax/Corporation Tax : Losses) INCOME TAX – offset of trading losses against income – whether land was held as trading stock – whether declaration of trust was effective to transfer beneficial ownership of land to appellants – effect of s14 Stamp Act 1891 on admissibility of trust declarations – application of foreign laws – Recognition of Trusts Act 1987 – illegal return of capital – sham – appeal dismissed


[2017] UKFTT 189 (TC)




England and Wales

Income Tax

Updated: 06 February 2022; Ref: scu.578550