Lowe v Revenue & Customs (INCOME TAX : discovery assessment) [2019] UKFTT 367 (TC) (10 June 2019)

Lowe v Revenue & Customs (INCOME TAX : discovery assessment) [2019] UKFTT 367 (TC) (10 June 2019)

The appellant received and failed to declare a capital gain of £33,333.33 in 2006-07 and a gain of £1,095,000 in 2010-11. The omissions were at least careless, if not deliberate, and the assessments and penalties were lawfully made within the statutory time limits. The appellant did not discharge the burden of proving the assessments or penalties were incorrect or excessive. Suspension or special reduction of penalties was not warranted.

Citation
[2019] UKFTT 367
Parties
Appellant: Marion Lowe; Respondents: The Commissioners for Her Majesty’s Revenue & Customs
Jurisdiction
United Kingdom
Judgment Date
10 June 2019
Procedural Posture
Income Tax Appeal (discovery Assessment and Penalties) / First Tier Tribunal (tax Chamber) Substantive Decision
Outcome
Appeal dismissed
Legal Topics
Income Tax, Discovery Assessment, Penalties, Capital Gains Tax, Self Assessment, Careless and Deliberate Conduct, Suspension of Penalties
Tax Law Income Tax Discovery Assessment Penalties Capital Gains Tax Self Assessment Careless and Deliberate Conduct Suspension of Penalties

Case Brief

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Parties

Marion Lowe

Appellant

The Commissioners for Her Majesty’s Revenue & Customs

Respondents

Procedural Posture

Income Tax Appeal (discovery Assessment and Penalties) / First Tier Tribunal (tax Chamber) Substantive Decision

Legal Issues

  1. 1 Whether HMRC correctly raised the discovery assessment under ss 29 and 36 TMA 1970 for 2006-07
  2. 2 Whether HMRC correctly raised penalty assessments under s 95(1) TMA 1970 and Schedule 24 Finance Act 2007 for 2006-07 and 2010-11
  3. 3 Whether the assessments and penalties were out of time or excessive

Ratio Decidendi

The appellant received and failed to declare a capital gain of £33,333.33 in 2006-07 and a gain of £1,095,000 in 2010-11. The omissions were at least careless, if not deliberate, and the assessments and penalties were lawfully made within the statutory time limits. The appellant did not discharge the burden of proving the assessments or penalties were incorrect or excessive. Suspension or special reduction of penalties was not warranted.

Court Disposition

Appeal dismissed

Orders

  • Assessment and penalties upheld as set out in paragraph 2 of the decision
  • No suspension or special reduction of penalties