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S Brand v HMRC

In S Brand v HMRC (TC02434 – 8 January) an individual (B) sold some land to a property developer in 2010 incurring a CGT liability for 2010/11. However the developer failed to pay the agreed amount. In February 2012 B asked HMRC for additional time to pay the CGT due. HMRC rejected this request and subsequently imposed a penalty under FA 2009 Sch 56. The First-tier Tribunal allowed B’s appeal holding that the circumstances constituted a reasonable excuse.

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Why it matters: The First-tier Tribunal observed that the appellant was being required to pay capital gains tax although he had not yet received the consideration which gave rise to this tax liability. In the circumstances the Tribunal accepted that there was a reasonable excuse for the late payment of the tax due.

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