Trachtenberg v Revenue and Customs (INCOME TAX - accessing pension fund via indirect loans) [2024] UKFTT 376 (TC) (09 May 2024)

Trachtenberg v Revenue and Customs (INCOME TAX - accessing pension fund via indirect loans) [2024] UKFTT 376 (TC) (09 May 2024)

s29 TMA 1970 can be used to assess unauthorised payment charges and surcharges under s208 and s209 FA 2004; Mr Trachtenberg acted deliberately in failing to declare the charges, satisfying the requirements for extended time limits and assessment; and it is not just and reasonable to discharge the surcharge given his conduct and the statutory scheme.

Citation
[2024] UKFTT 376
Parties
Appellant: Larry Trachtenberg; Respondents: The Commissioners for His Majesty's Revenue and Customs
Jurisdiction
United Kingdom
Judgment Date
09 May 2024
Procedural Posture
Tax Appeal / First Tier Tribunal (tax Chamber) Judgment
Outcome
Appeal dismissed
Legal Topics
Income Tax, Pension Scheme Unauthorised Payments, Tax Assessments, Deliberate Behaviour, Time Limits for Tax Assessments, Surcharge Discharge Applications
Tax Law Pensions Law Income Tax Pension Scheme Unauthorised Payments Tax Assessments Deliberate Behaviour Time Limits for Tax Assessments Surcharge Discharge Applications

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 3 Authorities cited 11 Party arguments 2 Amounts and remedies 4
Sign in to unlock

Parties

Larry Trachtenberg

Appellant

The Commissioners for His Majesty's Revenue and Customs

Respondents

Procedural Posture

Tax Appeal / First Tier Tribunal (tax Chamber) Judgment

Legal Issues

  1. 1 Whether s29 TMA 1970 can be used to recover amounts chargeable to tax under s208 and s209 FA 2004
  2. 2 Whether deliberate behaviour was established such that the extended time limits of s36(1A) TMA 1970 and the provisions of s29(4) TMA 1970 apply
  3. 3 Whether it is just and reasonable in all the circumstances to remove the surcharge under s268 FA 2004

Ratio Decidendi

s29 TMA 1970 can be used to assess unauthorised payment charges and surcharges under s208 and s209 FA 2004; Mr Trachtenberg acted deliberately in failing to declare the charges, satisfying the requirements for extended time limits and assessment; and it is not just and reasonable to discharge the surcharge given his conduct and the statutory scheme.

Court Disposition

Appeal dismissed

Orders

  • Assessments under s29 TMA 1970 upheld for tax years 2006/07 and 2009/10
  • No discharge from the s209 FA 2004 surcharge