Income Tax, Vat and Penalties – Discovery Assessment and Closure Notice – ss 28 and 29 and 34 of Taxes Management Act 1970 – capital allowances and revenue expenditure and loss relief claims – expenditure to construct a sports complex and house renovation – whether there was a ‘trade’ being carried on for income tax purposes – whether entitlement to input VAT relief – s 24 of Value Added Tax Act 1994 – whether inaccuracies in returns ‘deliberate’ for Sch 24 penalties – whether surcharge upheld – appeals dismissed
Citations:
[2022] UKFTT 42 (TC)
Links:
Jurisdiction:
England and Wales
Income Tax, VAT
Updated: 07 May 2022; Ref: scu.675655
