12 January 2017

UT Decision: Mark Danvers v HMRC

INCOME TAX – registered pension scheme – scheme funds invested at member’s direction in preference shares of finance company – finance company lending its assets to third party lender who made loan to scheme member – scheme member obliged as condition of receiving loan to ensure scheme assets remain invested in finance company preference shares – whether loan to scheme member was unauthorised member payment -whether payment made in connection with the investment in the preference shares – ss 161 (3) and (4) Finance Act 2004
Laura Poots, Counsel, instructed by the General Counsel and Solicitor to HM Revenue and Customs, for the Respondents.
To see the approved Decision, click here.