Upper Tribunal (Administrative Appeals Chamber)

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URL: http://www.bailii.org/uk/cases/UKUT/AAC/2020/340.html
Cite as: [2020] UKUT 340 (AAC)

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JQ v Her Majesty's Revenue and Cusoms (TC) [2020] UKUT 340 (AAC) (18 June 2020)

Tax Credits - Child Tax Credit - no valid claim for capital allowance by the time Her Majesty's Revenue and Customs made its decision on his entitlement to tax credits - not operating or carrying on any overseas property business at the time of the decision and expenditure on a property could not constitute a permissible capital allowance - Regulation 3(8) of the Tax Credits (Definition and Calculation of Income) Regulations 2002 - s.120 of the Income Tax Act 2007 ("ITA 2007") - s. 263 & 265 Income Tax (Trading and Other Income) Act 2005 - s.3 of the Capital Allowances Act 2001 - appeal dismissed - FTT correct to find that no reduction should have been made from Appellant's income for property purchased in Ghana when entitlement to tax credits was assessed.

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