Upper Tribunal Tax and Chancery Chamber

UT (Tax & Chancery) UT-2024-000024 - [2025] UKUT 00156 (TCC)

Fecha: 18-Mar-2025

Where this section applies–

(4)

Where this section applies–

(a)

any of the scheme transactions which is a land transaction shall be disregarded for the purposes of this Part, but

(b)

there shall be a notional land transaction for the purposes of this Part effecting the acquisition of V's chargeable interest by P on its disposal by V.

(5)

The chargeable consideration on the notional transaction mentioned in subsections (1)(c) and (4)(b) is the largest amount (or aggregate amount)–

(a)

given by or on behalf of any one person by way of consideration for the scheme transactions, or

(b)

received by or on behalf of V (or a person connected with V within the meaning of section 1122 of the Corporation Tax Act 2010 by way of consideration for the scheme transactions.

Heading
INTRODUCTION
ENQUIRY APPEAL
A closure notice must either—
A closure notice takes effect when it is issued.”
The FTT Decision
The FTT’s conclusion on the validity of the enquiry notices
Overview of the parties’ cases
Outline of HMRC’s case
Discussion and Analysis
Ground 2 – Notices of enquiry were ambiguous
Section 83(2) FA 2003
THE ASSESSMENT APPEAL
The Legislation
This section applies where–
Where this section applies–
The effective date of the notional transaction is–
Notifiable Transactions
A land transaction is notifiable if it is–
Assessments
Conclusions