Income tax – underdeclaration of takings by takeaway restaurant – amendment of partnership returns for the enquiry year and five other years – imposition of penalties for inaccuracies in the original returns – whether the returns were inaccurate – yes – whether HMRC’s amendments to them were correct – no, though the basic methodology followed had been reasonable – amendments to be altered to correct excessive amounts – whether penalties correctly imposed – yes, subject to adjustment in line with amended partnership return figures – appeal allowed in part
Citations:
[2011] UKFTT 812 (TC)
Links:
Jurisdiction:
England and Wales
Income Tax
Updated: 28 September 2022; Ref: scu.450940