London: +44 (0)20 7236 2601
St Albans: +44 (0)1727 869141
Rickmansworth: +44 (0) 1923 771010
Milton Keynes: +44 (0)1908 605552
"We understand our clients'
needs and offer practical solutions"

Penalty for careless behaviour reduced by over 90%

Date: 1st March, 2017   |   Author: Cathy Corns   |   Comments: 0

Mr Fry had incorrectly made a capital loss claim in his tax return, the error was held by the Tribunal to be due to his carelessness and, therefore, subject to a penalty.  However, Mr Fry had left the UK and so it was unlikely that the unused portion of the claimed loss would be used.  Accordingly, the Tribunal agreed that the penalty should be calculated on only the used portion of the loss.  The penalty was reduced from £163,192 to £5,183!

 

Discussion and Comments

 

Name:
Email:
Comment:  
Please enter the word you see in the image below:

Notify me of follow-up comments?

Contact Business Service Partners

Choose from the drop down menu below to select a Partner to contact.

Tweet

LinkedIn

For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole

Click here to follow us on LinkedIn