Source: All England Reporter
Publisher Citation: [2012] All ER (D) 240 (Dec)
Neutral Citation: [2012] UKFTT 740 (TC)
Court: First-tier Tribunal (Tax Chamber)

Judge John Clark and Jacqui Dixon

Judgment Dates: 3 December 2012


Income tax - Loss relief - Taxpayer investing in college - Taxpayer discovering college in financial difficulties - College resolving to issue taxpayer 99% shareholding to be satisfied by conversion of outstanding indebtedness - Taxpayer seeking tax relief against loss - Revenue and Customs Commissioners refusing - Taxpayer appealing - Whether Revenue erring - .

The Case

Income tax Loss relief. The First-tier Tribunal (Tax Chamber) upheld a decision of the Revenue and Customs Commissioners to refuse tax relief to the taxpayer, who had invested substantial sums into a college.

Practice Areas

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