Shinelock Ltd v Revenue and Customs (Procedure : Other): FTTTx 7 Sep 2021

CORPORATION TAX – capital gain realised on sale of property – whether payment to director/former shareholder who was controlling party was deductible – jurisdiction in circumstances where no claim made to use loan relationship deficit before issue of closure notice or expiry of two year time limit – whether payment was a distribution – whether amount deductible as expense or loss from non-trading loan relationship – appeal dismissed
[2021] UKFTT 320 (TC)
Bailii
England and Wales

Updated: 23 October 2021; Ref: scu.667936