[2018] UKFTT 0451 (TC)

Judge Rachel Short, Mrs Sheila Cheesman (Member)

Decision released 20 June 2018

Capital gains tax – Disposal of interest in property – Resultant trust-discovery assessment – Deliberate actions – Failure to consider tax consequences of declaration of trust.

  The First-tier Tribunal (FTT) dismissed an appeal by the taxpayer against a discovery assessment issued by HMRC on the basis that he had acted deliberately in failing to properly investigate the tax consequences of the disposal of a property and of declaring a trust for the benefit of his sister.

Summary

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