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Decision Number: |
TC 03229 |
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Appellant:
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Bernard Peter Litman
Ann Newall |
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Respondent:
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The Commissioners for Her Majesty's Revenue & Customs |
Chairmen / Special
Commissioners: |
Rachel SHORT
|
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Date Of Decision:
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16/01/2014 |
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Main Category:
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INCOME TAX/CORPORATION TAX |
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Main Subcategory:
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Assessment/self-assessment |
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Notes:
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Capital Gains Tax – negligence in making tax returns - CGT loss generating
scheme- acquisition of Capital Redemption Policies – reliance on advice from
professional firms – DOTAS number provided –held – failure to understand
commercial elements of transaction and that financing to acquire Capital
Redemption Policies was not a sham amounts to negligence – level of penalty
reduced in respect of DOTAS disclosure and degree of co operation. |
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Decision(s) to Download:
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TC03229.pdf 
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