INCOME TAX – self-assessment – discovery assessments – whether relevant conditions met – reference during enquiry window to potential assessability – held on facts that no information available then to enable HMRC officer to quantify loss of tax for relevant tax year – condition in s 29(5) TMA 1970 met – held, assessments valid – whether appellants were settlors for tax purposes in respect of non-UK trust – burden of proof – approach where appellants would have to prove a negative – held, for HMRC to show prima facie case and then for burden of proof to revert to appellants – held on facts that appellants were settlors – quantum of assessments to be adjusted – loss relief claims not within Tribunal’s jurisdiction as not finally determined by HMRC – appeals dismissed
Citations:
[2016] UKFTT 133 (TC)
Links:
Jurisdiction:
England and Wales
Income Tax
Updated: 07 July 2022; Ref: scu.561864
