Income tax – Appellant sub-postmaster receiving termination payment on closure of sub-post office – sub-post office business carried on as part of overall partnership retail shop business of Appellant and his wife – tax treatment of termination payment received – whether partnership property – yes – whether payment ‘received’ wholly by the Appellant or in partnership (equal) shares with his wife for the purposes of s 401 ITEPA – equal shares – whether payment wholly taxable in the hands of the Appellant under s 403 ITEPA – yes – whether payment could be apportioned – on the facts yes, but irrelevant.
Citations:
[2010] UKFTT 215 (TC)
Links:
Jurisdiction:
England and Wales
Taxes – Other
Updated: 19 October 2022; Ref: scu.422251
