In Peter Devine v HMRC [2014] UKFTT 855 (29 August 2014) the FTT accepted the taxpayer’s evidence on his business takings.
Peter Devine appealed against an assessment which was based on HMRC’s belief that his actual betting business takings were in excess of his declared takings. This was in particular due to the existence of blank betting slips and of unexplained deposits made into the taxpayer’s personal account.
However the FTT was not convinced that blank betting slips were placed through the till and in the absence of cameras relied on the evidence of witnesses. Similarly the FTT accepted the taxpayer’s evidence that he paid his takings into his personal account to avoid bank charges. The FTT also accepted the taxpayer’s claim that the substantial cash inflows into his personal bank account came from cash betting. The FTT observed that the taxpayer’s...
