UT (Tax & Chancery) UT-2024-000113 - [2025] UKUT 00165 (TCC)

UT (Tax & Chancery) Case Number: UT-2024-000113

Hearing venue: The Rolls Building

London EC4A 1NL

Judgment date: 3 June 2025

INCOME TAX –– share loss relief pursuant to s.574 Income and Corporation Tax Act 1988 – incurred in 2006-07 but claimed and carried back against income on 2005-06 return –Schedule 1B TMA 1970 applies so as to treat claim as relating to 2006-07 – standalone claim not made ‘in’ 05-06 return because information provided did not go to the calculation of tax - thus HMRC validly opened enquiries both into a) the claim made outside the 05-06 return pursuant to Schedule 1A TMA, and b) 06-07 return under section 9A TMA – both closure notices valid as reasonable recipient would understand them to deny all relief claimed despite incorrect figures included – Appellant’s appeal dismissed and HMRC’s cross-appeal allowed

Before

MR JUSTICE RICHARD SMITH

JUDGE RUPERT JONES

Between

ROGER MURPHY

Appellant

and

THE COMMISSIONERS FOR HIS MAJESTY’S REVENUE AND CUSTOMS

Respondents

Representation:

For the Appellant: Mr Grierson of counsel as representative

For the Respondents: Mr Joshua Carey and Mr Sam Way of counsel instructed by the General Counsel and Solicitor for His Majesty’s Revenue and Customs