[2009] UKFTT 238 (TC)

[The appeal against this decision is reported at [2011] BTC 1,535.]

Theodore Walla (Judge) (chairman); Ian Menzies-Conacher, ACIB, CTA, FCA

Decision released 14 September 2009

Income tax – transaction in securities – contribution by company to QUEST – sale by controlling shareholder of shares to QUEST – notice under ICTA s. 703 to counteract tax advantage – Served after enactment of ITA 2007 – Alternative notice under ITA 2007, s. 698 – which notice effective – whether tax advantage – whether tax advantage a main object – appeal dismissed

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