THE KING (on the application of) UBS AG v THE COMMISSIONERS FOR HIS MAJESTY’S REVENUE AND CUSTOMS and JONATHAN WOOD [2024] UKUT 00242 (TCC)
Upper Tribunal Tax and Chancery decision of Judge Swami Raghavan and Judge Jeanette Zaman on 21 August 2024
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JUDICIAL REVIEW – challenge to HMRC’s refusal to exercise s684(7A) ITEPA discretion to remove obligation on employer to account for PAYE in respect of employee’s tax liability on earnings in the form of gilts – HMRC subsequently withdrew defence and sought consent to withdraw from proceedings on basis that a new HMRC officer would make new decision on exercise of discretion – whether HMRC correct to say original action rendered academic – no – whether tribunal should make mandatory, declaratory and quashing orders sought by claimant – no (apart from declaratory relief in respect of misdirections of law that were made out and mandatory order to make a new decision)