FTTTx INCOME TAX – ‘general earnings’ within the charge to income tax under s.6 ITEPA – whether the transfer of a cottage to the Appellant at an undervalue constituted a profit of the Appellant’s office or employment with his building company as being a transfer at an undervalue which was ‘money’s worth’ within s.62(3) ITEPA – found on the facts that the transfer was made under an arrangement carried out by the Appellant with the company in his individual capacity and not as a director or employee pursuant to which he would personally contribute one half the development costs of the project in question in return for one of the two cottages which the company would otherwise have retained as its reward for the project – decision in principle in favour of the Appellant
Judges:
John Walters QC
Citations:
[2010] UKFTT 29 (TC)
Links:
Income Tax
Updated: 17 August 2022; Ref: scu.408908