In MC & LJ Ive v HMRC (TC03529 – 1 May 2014) the FTT found four discovery assessments invalid.
Mr Ive ran a restaurant which he had incorporated. The company entered into leases with unconnected lessors for two vehicles. First in August 2002 the company leased a Land Rover and then in August 2005 the company leased a Range Rover. On both leases the company was named as the lessee. Following a routine compliance visit on the company in January 2007 HMRC opened an enquiry into Mr Ive’s 2008/09 self-assessment return and issued discovery assessments in respect of the tax years 2004/05 to 2007/08 inclusive.
Mr Ive argued that the discovery assessments were not valid. The tribunal found in his favour. The January 2007 visit had alerted HMRC to the existence of the Range Rover. Furthermore a letter showed that...
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In MC & LJ Ive v HMRC (TC03529 – 1 May 2014) the FTT found four discovery assessments invalid.
Mr Ive ran a restaurant which he had incorporated. The company entered into leases with unconnected lessors for two vehicles. First in August 2002 the company leased a Land Rover and then in August 2005 the company leased a Range Rover. On both leases the company was named as the lessee. Following a routine compliance visit on the company in January 2007 HMRC opened an enquiry into Mr Ive’s 2008/09 self-assessment return and issued discovery assessments in respect of the tax years 2004/05 to 2007/08 inclusive.
Mr Ive argued that the discovery assessments were not valid. The tribunal found in his favour. The January 2007 visit had alerted HMRC to the existence of the Range Rover. Furthermore a letter showed that...
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