The Quentin Skinner 2005 Settlement L & ors v HMRC [2019] WTLR 1389

Winter 2019 #177

On 1 December 2015 three settlements (“the Skinner Settlements”) disposed of 55,000 ordinary shares (“the Shares”) in a company (“the Company”) at a gain. Under each Skinner Settlement a member of the Skinner family had been given an interest in possession in the whole of the settled property on 30 July 2015.

Following the disposal of the Shares, the Skinner Settlements and their respective Beneficiaries (“the Beneficiaries”) claimed entrepreneurs ‘ relief (“ER”) under s169J of the Taxation of Chargeable Gains Act 1992 (“TCGA 1992“) applying a reduced ra...

Rosenbaum (dec’d) v HMRC [2013] UKFTT 495 (TC)

March 2014 #137

The appellant filed a paper tax return late and was liable to a penalty but appealed, arguing that it was merely intended to be a copy of a tax return subsequently filed online and in time. The respondent’s proposition was accepted that a subsequent online timely filing of a tax return by 31 January did not relieve a taxpayer, who had filed a valid paper tax return after 31 October, from a penalty. However, although the nature of the paper document which had been filed was in dispute and central to the issues between the parties, the respondent, on whom the burden of proof lay, fai...