![TC09557 - [2025] UKFTT 00750 (TC)](https://backend.juristeca.com/files/emisores/logo_7HSuEAV.png){kind=logo}
Whether the transfer falls to be taken into account for the purposes of income tax
Whether the transfer falls to be taken into account for the purposes of income tax
The remaining element of s 94(2)(a) that we must consider is whether the payment to Ms Tonkin “falls to be taken into account” in computing her profits or gains “for the purposes of income tax”. It is common ground between the parties that Ms Tonkin was liable to income tax on the £740,100 she received under the scheme. We did not understand HMRC to dispute that this amount fell to be taken into account in computing Ms Tonkin’s income tax liability, and indeed they could hardly have done so while continuing to impose the charge to income tax on that amount. Given that neither party sought to persuade us that the charge to income tax had been imposed incorrectly, we find this element of s 94(2)(a) to have been met.
- Heading
- Introduction
- Hearing and evidence
- Findings of fact
- The scheme transactions
- History of the tax dispute
- Relevant law
- Discussion
- The parties’ submissions on the meaning of profits or gains
- Our view on the meaning of profits or gains
- The parties’ submissions on who received the transfer of value
- Our view on who received the transfer of value
- Whether the transfer falls to be taken into account for the purposes of income tax
- Conclusions