MARK CAMPBELL v Revenue & Customs (CAPITAL GAINS TAX - Whether dwelling houses were purchased as part of a trade or venture) [2022] UKFTT 46 (TC) (08 February 2022)

MARK CAMPBELL v Revenue & Customs (CAPITAL GAINS TAX - Whether dwelling houses were purchased as part of a trade or venture) [2022] UKFTT 46 (TC) (08 February 2022)

The appellant’s activities did not constitute trading; gains are capital in nature and subject to Capital Gains Tax. The appellant was not residing in job-related accommodation, and none of the properties qualified as his main residence for Principal Private Residence Relief. Relief is denied. Discovery assessments...

Source-derived case information.

Citation
[2022] UKFTT 46 (TC)
Parties
Appellant: Mark Campbell; Respondents: The Commissioners for Her Majesty’s Revenue and Customs
Jurisdiction
United Kingdom
Judgment Date
08 February 2022
Procedural Posture
Tax Appeal / Final Judgment, Appeal Dismissed
Outcome
Appeal dismissed
Legal Topics
Capital Gains Tax, Principal Private Residence Relief, Income Tax, Discovery Assessments, Penalties for Failure to Notify
Tax Law Capital Gains Tax Principal Private Residence Relief Income Tax Discovery Assessments Penalties for Failure to Notify

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Parties

Mark Campbell

Appellant

The Commissioners for Her Majesty’s Revenue and Customs

Respondents

Procedural Posture

Tax Appeal / Final Judgment, Appeal Dismissed

Legal Issues

  1. 1 Whether the purchase and sale of dwelling houses constituted a trade or venture in the nature of trade
  2. 2 Whether gains on sale of properties are capital gains or trading profits
  3. 3 Whether the appellant was residing in job-related accommodation

Ratio Decidendi

The appellant’s activities did not constitute trading; gains are capital in nature and subject to Capital Gains Tax. The appellant was not residing in job-related accommodation, and none of the properties qualified as his main residence for Principal Private Residence Relief. Relief is denied. Discovery assessments and penalties were validly issued.

Court Disposition

Appeal dismissed

Orders

  • Assessments, Closure Notice, and Penalties stand
  • No Principal Private Residence Relief allowed