Altan Goksu v The Commissioners for HMRC

Altan Goksu v The Commissioners for HMRC

The Tribunal found, on the balance of probabilities, that the appellant's accountant notified HMRC of the capital loss in 2000 in a quantified manner, entitling the appellant to deduct a minimum loss of £412,126. The overstatement of expenses in the 2014-15 return was found to be careless, not deliberate, and the...

Source-derived case information.

Parties
Appellant: Altan Goksu; Respondents: The Commissioners for Her Majesty’s Revenue and Customs
Jurisdiction
England and Wales
Judgment Date
11 July 2022
Procedural Posture
Tax Appeal / Judgment After Hearing
Outcome
Appeal allowed in part
Legal Topics
Capital Gains Tax, Notification of Capital Loss, Penalties for Inaccuracies, Burden of Proof, Time Limits for Claims
Tax Law Capital Gains Tax Notification of Capital Loss Penalties for Inaccuracies Burden of Proof Time Limits for Claims

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Parties

Altan Goksu

Appellant

The Commissioners for Her Majesty’s Revenue and Customs

Respondents

Procedural Posture

Tax Appeal / Judgment After Hearing

Legal Issues

  1. 1 Whether the appellant notified HMRC of a capital loss from 1998 within the statutory time limit and in a quantified manner
  2. 2 Whether the inclusion of the loss and certain expenses in the 2014-15 tax return was careless or deliberate, justifying penalties

Ratio Decidendi

The Tribunal found, on the balance of probabilities, that the appellant's accountant notified HMRC of the capital loss in 2000 in a quantified manner, entitling the appellant to deduct a minimum loss of £412,126. The overstatement of expenses in the 2014-15 return was found to be careless, not deliberate, and the penalty was reduced accordingly.

Court Disposition

Appeal allowed in part

Orders

  • The closure notice amending the 2014-15 tax return and the related penalty for careless inaccuracy is set aside.
  • The penalty for overstatement of expenses is confirmed in the amount of £6,627.03.