Tysim Holdings v HMRC

In Tysim Holdings v HMRC [2019] UKFTT 606 (27 September 2019) the FTT found that a company owned and managed by a non-resident individual did not have a reasonable excuse for the late payment of ATED.

Tysim owned a flat in London. It had made late payments of ATED for the years 2015/16 2016/17 and 2017/18 on 20 December 2017. HMRC had imposed penalties against which Tysim appealed. The company argued that it had not been aware of its obligations under ATED until November 2017 and that it had a reasonable excuse.

Mr Chan Hua Eng the chairman of Tysim accepted that a person cannot rely upon ignorance of the law as a general matter but maintained that the change in the law when the ATED was introduced provided a reasonable excuse for its failure as his company only owned one property and he was not...

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