White v Revenue and Customs: FTTTx 2 Dec 2016

FTTTx (Income Tax/Corporation Tax : Profits) INCOME TAX – bad debt relief – sole trader – writing off loans to father’s company – whether loans made – quantum of loans – claim to discharge tax under Schedule 1AB TMA 1970 – whether loans were bad or estimated to be bad – whether loans were capital or revenue in nature – whether loans were made wholly and exclusively for the purposes of the sole trader business – appeal dismissed

Citations:

[2016] UKFTT 791 (TC)

Links:

Bailii

Jurisdiction:

England and Wales

Income Tax

Updated: 29 January 2022; Ref: scu.574014