FTTTX CAPITAL GAINS TAX – Claim for relief for overpaid tax – Schedule 1AB Taxes Management Act 1970 – return showing disposal of shares giving rise to a chargeable gain – capital gains tax paid – taxpayer later claiming that the transaction was fraudulent and the capital gains tax should be repaid to her – whether the shares had been beneficially owned by the taxpayer – found on the balance of probabilities that they had – held no overpayment of capital gains tax – Revenue’s alternative argument based on taxpayer’s failure to amend the return in time (Case C, paragraph 2(4), Schedule 1AB TMA) rejected on the basis that if there had been an overpayment it was for HMRC to prove that the taxpayer knew or ought reasonably to have known of that fact before the time for amendment of the return expired and they had not proved that fact – appeal dismissed
[2013] UKFTT 673 (TC)
Bailii
Taxes Management Act 1970
England and Wales
Capital Gains Tax, Taxes Management
Updated: 10 November 2021; Ref: scu.518627
