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A Anderson v HMRC

In A Anderson v HMRC [2016] UKFTT 335 (16 May 2016) the FTT found that HMRC had not been entitled to raise a discovery assessment in the absence of carelessness by the taxpayer.

The issue was whether HMRC had been entitled to issue a discovery assessment on the basis of an insufficiency of CGT brought about by the careless behaviour of the appellant (under s TMA 1970 s 29(4)).  

Mr Anderson had sold his 50% holding in a company to another company and the consideration had been an issue of shares. The issue was the market value of the shares sold.

The first question was whether there had been a discovery. The FTT found that during an enquiry into Mr Anderson’s return for 2008/09 it had newly appeared to the HMRC officer that additional CGT was due. She had become aware that the open market value...

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