ANTHONY OUTRAM & ROSS OUTRAM v THE COMMISSIONERS FOR HIS MAJESTY’S REVENUE AND CUSTOMS [2024] UKUT 00203 (TCC)
Upper Tribunal Tax & Chancery decision of Judge Jeanette Zaman and Judge Ashley Greenbank on July 12th 2024
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INCOME TAX – discovery assessments – Appellants had claimed losses on tax returns in relation to transactions which had been marketed as tax avoidance – agreed scheme did not achieve intended tax benefits – FTT held inaccuracies in tax returns were deliberate – Appellants appealed – held – no procedural error in review of decision by FTT, and FTT was entitled to make the amendments made to the decision – whilst FTT had purported to apply the correct subjective test when assessing whether conduct was deliberate, reasoning included an objective approach – appeal allowed and remitted to FTT
Updates to this page
Published 15 July 2024