UT/2024/61 - [2025] UKUT 00096 (TCC)

Fecha: 19-Feb-2025

Heading

Neutral Citation: [2025] UKUT 00096 (TCC)

Case Number: UT/2024/61

UPPER TRIBUNAL

(Tax and Chancery Chamber)

Rolls Building, London

CAPITAL GAINS TAX – entitlement to loss relief under s253 TCGA 1992 following capitalisation of loan – appeal allowed

Heard on: 19 February 2025

Judgment date: 19 March 2025

Before

MRS JUSTICE JOANNA SMITH

JUDGE NICHOLAS ALEKSANDER

Between

THE COMMISSIONERS FOR HIS MAJESTY’S REVENUE AND CUSTOMS

Appellants

and

TIMOTHY BUNTING

Respondent

Representation:

For the Appellants: Quinlan Windle, Counsel, instructed by the General Counsel and Solicitor to His Majesty’s Revenue and Customs

For the Respondent: Thomas Chacko, Counsel, instructed by Evelyn Partners LLP, chartered accountants

DECISION