In Brian Foulser v HMRC (TC03609 – 23 May 2014) the FTT held that Mr Foulser had not settled his appeal.
The appeal concerned a denied claim for hold-over relief on the disposal of shares. It had been dismissed by the special commissioners the High Court and the Court of Appeal. The matter then reverted to the FTT for the determination of the taxable gain.
HMRC contended that it had determined (albeit in error) that £1 202 494 out of the total liability of £8 499 641 should no longer be postponed and sought payment of that amount which had been received from Mr Foulser.
Mr Foulser argued that the letter from HMRC had been an offer to settle which he had accepted. The issue was therefore whether an agreement had been reached under TMA 1970 s 54.
The FTT observed that s 54...
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In Brian Foulser v HMRC (TC03609 – 23 May 2014) the FTT held that Mr Foulser had not settled his appeal.
The appeal concerned a denied claim for hold-over relief on the disposal of shares. It had been dismissed by the special commissioners the High Court and the Court of Appeal. The matter then reverted to the FTT for the determination of the taxable gain.
HMRC contended that it had determined (albeit in error) that £1 202 494 out of the total liability of £8 499 641 should no longer be postponed and sought payment of that amount which had been received from Mr Foulser.
Mr Foulser argued that the letter from HMRC had been an offer to settle which he had accepted. The issue was therefore whether an agreement had been reached under TMA 1970 s 54.
The FTT observed that s 54...
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