In P Favell v HMRC (TC00642 – 23 August) a market trader (F) purchased a flat in 1999. He transferred it to his son in June 2003. In his tax return he did not declare any gain on the disposal. HMRC issued an assessment charging CGT and F appealed contending that he was entitled to principal private residence relief under TCGA s 223(3) as he had occupied the flat during 2001 after temporarily splitting up with his partner but had resumed living with her later in the year (and had subsequently married her).
The First-Tier Tribunal reviewed the evidence and dismissed the appeal observing that F had produced ‘no documentary evidence (bills bank statements correspondence etc) to show that he had occupied the property’. F had failed to discharge the burden of proof that...
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In P Favell v HMRC (TC00642 – 23 August) a market trader (F) purchased a flat in 1999. He transferred it to his son in June 2003. In his tax return he did not declare any gain on the disposal. HMRC issued an assessment charging CGT and F appealed contending that he was entitled to principal private residence relief under TCGA s 223(3) as he had occupied the flat during 2001 after temporarily splitting up with his partner but had resumed living with her later in the year (and had subsequently married her).
The First-Tier Tribunal reviewed the evidence and dismissed the appeal observing that F had produced ‘no documentary evidence (bills bank statements correspondence etc) to show that he had occupied the property’. F had failed to discharge the burden of proof that...
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