Discovery assessment issued during enquiry window was invalid
In E Curtis v HMRC [2022] UKFTT 172 (TC) (6 June 2022) the First-tier Tribunal (FTT) allowed the taxpayer’s appeal against a pensions unauthorised payments charge and surcharge because HMRC’s discovery assessment was invalid for being issued while the enquiry window was still open.
The FTT found the taxpayer liable in principle to a charge for an unauthorised member payment from her pension in respect of a loan that was connected with the transfer of her pension even though she was unaware of this connection. In addition the taxpayer was liable in principle to an unauthorised payments surcharge because the unauthorised payment exceeded 25% of the value of her pension.
The FTT still allowed the taxpayer’s appeal because HMRC’s assessment was invalid.
HMRC had become aware through an information notice that the taxpayer was a member of one of the...
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Discovery assessment issued during enquiry window was invalid
In E Curtis v HMRC [2022] UKFTT 172 (TC) (6 June 2022) the First-tier Tribunal (FTT) allowed the taxpayer’s appeal against a pensions unauthorised payments charge and surcharge because HMRC’s discovery assessment was invalid for being issued while the enquiry window was still open.
The FTT found the taxpayer liable in principle to a charge for an unauthorised member payment from her pension in respect of a loan that was connected with the transfer of her pension even though she was unaware of this connection. In addition the taxpayer was liable in principle to an unauthorised payments surcharge because the unauthorised payment exceeded 25% of the value of her pension.
The FTT still allowed the taxpayer’s appeal because HMRC’s assessment was invalid.
HMRC had become aware through an information notice that the taxpayer was a member of one of the...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
