Marano v Revenue & Customs (CAPITAL GAINS TAX : discovery assessment) [2020] UKFTT 199 (TC) (23 April 2020)

Marano v Revenue & Customs (CAPITAL GAINS TAX : discovery assessment) [2020] UKFTT 199 (TC) (23 April 2020)

The discovery assessment was not stale as HMRC acted diligently and the relevant discovery occurred less than five months before assessment; Notice to File and penalty notices were properly issued and served; late filing penalties are not reduced by payments on account; no special circumstances exist to reduce...

Source-derived case information.

Citation
[2020] UKFTT 199
Parties
Appellant: Peter Marano; Respondents: The Commissioners for Her Majesty’s Revenue and Customs
Jurisdiction
United Kingdom
Judgment Date
23 April 2020
Procedural Posture
Tax Appeal / Final Judgment
Outcome
Appeal refused
Legal Topics
Capital Gains Tax, Discovery Assessment, Late Filing Penalties, Remittance Basis, Staleness Doctrine
Tax Law Capital Gains Tax Discovery Assessment Late Filing Penalties Remittance Basis Staleness Doctrine

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Parties

Peter Marano

Appellant

The Commissioners for Her Majesty’s Revenue and Customs

Respondents

Procedural Posture

Tax Appeal / Final Judgment

Legal Issues

  1. 1 Whether the discovery assessment was stale
  2. 2 Whether the Notice to File was issued and properly served
  3. 3 Whether penalty notices were properly issued and notified

Ratio Decidendi

The discovery assessment was not stale as HMRC acted diligently and the relevant discovery occurred less than five months before assessment; Notice to File and penalty notices were properly issued and served; late filing penalties are not reduced by payments on account; no special circumstances exist to reduce penalties; Tribunal lacks jurisdiction to reduce assessment or penalties under TMA s 50.

Court Disposition

Appeal refused

Orders

  • Discovery assessment of £5,744,219 confirmed
  • Penalties for late filing confirmed: £100, £900, £300, £5,609 (x2), £574,422