In D Lyth v HMRC [2017] UKFTT 549 (6 July 2017) the FTT found that an inaccuracy in a return had not been deliberate as the taxpayer had not been aware of it at the time of filing (FA 2007 Sch 24).
Ms Lyth appealed against a penalty for inaccuracy in her self-assessment return. She accepted that the penalty had been careless but not HMRC’s view that it had been deliberate. The penalty concerned the capital gain she had realised on the sale of shares in a limited company which had been issued to her through her role with an agricultural equipment dealer.
The FTT found that Ms Lyth had not been aware of the inaccuracy when she completed and then submitted her return. In finding so the FTT accepted Ms Lyth’s evidence that due to depression she had been acting on ‘auto-pilot’ and the...
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