Andrew Berry v The Commissioners for HM Revenue and Customs: [2011] UKUT 81 (TCC)

Upper Tribunal Tax and Chancery decision of Mr Justice Lewison on 25 February 2011.

• From: HM Courts & Tribunals Service and Upper Tribunal (Tax and Chancery Chamber)
• Published: 1 December 2016

• Category: Tax
• Release date: 25 February 2011

Read the full decision in Andrew Berry v The Commissioners for HM Revenue and Customs: [2011] UKUT 81 (TCC),

Key words: Tax avoidance – Income Tax – Discounts – Gilt strips – Computation of loss – Scheme designed to create excess of amount paid for the strip over the amount payable on transfer – Excess represented by “premium” for grant by taxpayer of call option – Whether option price to be added back in determining amount payable on the taxpayer’s transfer – Yes – Appeal dismissed – Para 14A Sch 13 FA 1996.

Published 1 December 2016