G Clark v HMRC

In G Clark v HMRC [2017] UKFTT 392 (12 May 2017) the FTT found that on an appeal against a discovery assessment the tribunal is neither confined to the reasons for the opinion of the officer that there has been a loss of tax nor to the facts on which that opinion was based or the legal analysis applied at that time.

The substantive appeal was against discovery assessments in relation to an unauthorised payments charge and an unauthorised payments surcharge. The assessment arose in relation to certain transactions which resulted in pension funds that had originally been held in Mr Clark’s SIPP with Suffolk Life being transferred to a new scheme the Laversham Marketing Limited Pension Scheme (the LML Pension) and from there to Laversham Marketing Limited (LML) and Cedar Management Limited (CIM) out of which sums were lent to Mr Clark and...