Carrasco & anr v HMRC [2016] UKFTT 0731 (TC)

WTLR Issue: January/February 2017 #166

Mrs Carrasco inherited a London property known as 33 Smith Terrace, Chelsea in June 1988 (‘the property’). She subsequently vested the property in herself and her husband Javier Carrasco by way of a Deed of Gift.

The property was let to tenants from June 1998 to late June 2010...

Oates & anr v HMRC [2014] UKUT 0409 (LC)

WTLR Issue: January/February 2015 #146

Mr and Mrs Oates (the appellants) were taxpayers who had sold their home together with a substantial piece of scrub land with development potential for £725,000. The gain on the sale of the appellants’ home and garden was exempt under s222 of the Taxation of Chargeable Gains Act 1992 (TCGA) but capital gains tax was payable on the land...

Wagstaff & anr v HMRC [2014] UKFTT 43 (TC)

WTLR Issue: April 2014 #138

During 1990 Mr Wagstaff’s mother (Barbara) bought a flat for herself to live in (the flat). On 6 January 1996 she sold the flat to the appellants for £45,000. It was agreed that this was an arm’s length price. The sale was subject to the terms of an agreement of the same date (the agreement)...

AC v DC & ors [2012] EWHC 2032 (Fam)

WTLR Issue: June 2013 #130

Mostyn J granted an application by the applicant (W) to set aside transactions pursuant to s37(2) of the Matrimonial Causes Act 1973 that had been made by the first respondent (H) on about 2 December 2010 by which H disposed of his 86...

Hanson v HMRCC [2012] UKFTT 314 (TC)

WTLR Issue: December 2012 #125

In 2006, the appellant received loan notes as part of the consideration for a sale of a business. He disposed of these loan notes in 2008. The disposal gave rise to a chargeable gain for Capital Gains Tax (CGT) purposes of £1,261,387. Following the disposal the appellant read an article which suggested that UK holiday letting properties could be used to mitigate CGT charges...

Mclaughlin v HMRCC [2012] UKFTT 174 (TC)

WTLR Issue: June 2012 #120

James Albert McLaughlin (taxpayer), who was UK resident, engaged in a marketed planning scheme to avoid tax on a capital gain that he had made on the sale of a business. The scheme involved the acquisition by exchange of shares for overseas registered loan notes issued by two subsidiaries of Skandia UK Ltd (loan notes)...