Agus v Revenue & Customs [2010] UKFTT 425 (TC) (09 September 2010)

Agus v Revenue & Customs [2010] UKFTT 425 (TC) (09 September 2010)

The Tribunal found that the Appellant was not trading on his own account as a concert promoter; all reliable evidence demonstrated that WYLEL was the promoter and incurred the losses. The Appellant was therefore not entitled to claim loss relief under section 380 ICTA 1988 for the sum of £100,000.

Citation
[2010] UKFTT 425 (TC)
Parties
Appellant: Mr L Agus; Respondents: The Commissioners for Her Majesty’s Revenue and Customs
Jurisdiction
United Kingdom
Judgment Date
09 September 2010
Procedural Posture
Tax Appeal / First Tier Tribunal (tax) Substantive Decision
Outcome
Appeal dismissed
Legal Topics
Income Tax, Corporation Tax, Loss Relief, Self Assessment, Business Losses, Section 380 ICTA 1988
Tax Law Income Tax Corporation Tax Loss Relief Self Assessment Business Losses Section 380 ICTA 1988

Case Brief

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Parties

Mr L Agus

Appellant

The Commissioners for Her Majesty’s Revenue and Customs

Respondents

Procedural Posture

Tax Appeal / First Tier Tribunal (tax) Substantive Decision

Legal Issues

  1. 1 Whether the Appellant was entitled to claim loss relief under section 380 ICTA 1988 for losses arising from a failed concert promotion venture.
  2. 2 Whether the losses were incurred by the Appellant trading on his own account or by West Yorkshire Live Events Limited (WYLEL).

Ratio Decidendi

The Tribunal found that the Appellant was not trading on his own account as a concert promoter; all reliable evidence demonstrated that WYLEL was the promoter and incurred the losses. The Appellant was therefore not entitled to claim loss relief under section 380 ICTA 1988 for the sum of £100,000.

Court Disposition

Appeal dismissed

Orders

  • The Appellant was not entitled to claim loss relief under section 380 ICTA 1988 in the sum of £100,000.
  • The decision of HMRC amending the Appellant’s self assessment is upheld.