Tax Avoidance – Income Tax – Loss Determination On Disposal of Gilt Strips – paragraph 14A Schedule 13 Finance Act 1996 – grant of option to trustee followed by assignment of option to a third party purchaser – whether the concept of ‘loss’ pursuant to para 14A(1) is a ‘commercial’ or ‘legal’ concept – whether the amount paid by the purchaser to the trustee as a person other than the transferor is an ‘amount payable on the transfer’ under para 14A(3)(b) – ‘Ramsay’ application, ‘MacNiven’ on the commercial/legal dichotomy, ‘Campbell’ revisited, ‘Berry’ considered – quantum of loss claim reduced – appeal allowed in part
Citations:
[2022] UKFTT 408 (TC)
Links:
Statutes:
Jurisdiction:
England and Wales
Taxes – Other
Updated: 22 November 2022; Ref: scu.683223
