Decision Number: | TC 05800 |
Appellant: | Adrian Kerrison |
Respondent: | The Commissioners for Her Majesty's Revenue & Customs |
Chairmen / Special Commissioners: |
SARAH FALK |
Date Of Decision: | 19/04/2017 |
Main Category: | CAPITAL GAINS TAX/TAXATION OF CHARGEABLE GAINS |
Main Subcategory: | Computation |
Notes: | Income tax and capital gains tax – “bed and breakfast” scheme to generate capital loss under s 106A TCGA – claim to income tax relief for the loss under s 574 ICTA 1988 – whether “repo” rules in s 263A TCGA, value shifting rules in s 30 TCGA or Ramsay principles applied to prevent loss arising – whether waiver of loan to appellant gave rise to a receipt subject to income tax under s 687 ITTOIA 2005 (income not otherwise charged) – appeal allowed in part |