London: +44 (0)20 7236 2601
St Albans: +44 (0)1727 869141
Rickmansworth: +44 (0) 1923 771010
Milton Keynes: +44 (0)1908 605552

Perils of inconsistency

A recent case, Trevor Anthony Hartland v HMRC, appears to be about whether properties were principal private residences (PPRs), or trading assets.

Ultimately the Tribunal agreed with HMRC that at least one property sale was trading.  Interestingly, one of the things HMRC looked at was the difference between the declared profits on the tax returns, and the higher income figures declared on mortgage applications.  The Tribunal agreed that the higher income declared suggested that the taxpayer saw the gains from selling the properties as income.

It really pays to be consistent!



Date: 23rd February, 2015
Author: Cathy Corns


Articles from this Author

20th March, 2018
Beneficial loans

20th March, 2018
IR35 consultation

20th March, 2018
Tax codes

25th October, 2017
R&D changes see 22% increase in claims by SMEs

Contact Business Service Partners

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


Disruption in distribution click on the link to read how Corporate Advisory Partner, Henry……

Vendor assistance and vendor due diligence click on the link to read Corporate Finance Dire……



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

Click here to follow us on LinkedIn