31 January 2013
FTT Decision: Albermarle 4 LLP v The Commissioners for Her Majestys Revenue & Customs
INCOME TAX –Losses – whether losses relating to purchase and resale of commercial properties by appellant attributable to appellant’s UK property business (s264 Income Tax (Trading and Other Income Act) 2005) or whether the losses were trading losses – losses were trading losses – whether “discovery amendment” under s30B(1) Taxes Management Act 1970
Zizhen Yang acted for Albermarle 4 LLP
Click here for the full decision
This content is provided free of charge for information purposes only. It does not constitute legal advice and should not be relied on as such. No responsibility for the accuracy and/or correctness of the information and commentary set out in the article, or for any consequences of relying on it, is assumed or accepted by any member of PCTC or by PCTC as a whole.