Clipperton & anr v HMRC WTLR(w) 2021-08

Wills & Trusts Law Reports | Web Only

Drown & anr (as Executors of Leadley Deceased) v HMRC [2014] UKFTT 892 (TC)

Wills & Trusts Law Reports | June 2015 #150

Prior to his death on 11 May 2010, the deceased had bought £25,000 of shares in two companies and made a loan of £334,784.00 to a third company. It was accepted by HMRC that by 5 April 2010 the shareholdings were of negligible value. The loan to the third company had become irrecoverable as of 3 November 2009. The deceased’s 2009/2010 tax return was submitted by the appellants who were the deceased’s executors. Capital losses of £384,784.00 were reported and a claim to offset £40,000 against the deceased’s income was made. It was accepted by HMRC that the deceased would...