[2016] UKFTT 0150 (TC)

Judge Swami Raghavan

Decision released 2 March 2016

Income tax – Funded Unapproved Retirement Benefit Scheme (FURBS) – Trustees of FURBS invested in LLP engaged in trade of property development – Whether profits from LLP exempt from rate applicable to trusts under Income and Corporation Taxes Act 1988 (‘ICTA 1988’), s. 686(2)(c) – No – Appeal dismissed.

  

  

  Alan Pink FCA CTA appeared for the Appellants

  David Yates, counsel, instructed by the General Counsel and Solicitor to HM Revenue and Customs appeared for the Respondents

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