The former chancellor, Nadim Zahawi, agreed that he had been ‘careless’ in the completion of his tax return for 2017/18, allegedly in relation to a CGT liability connected to the disposal of shares in his former company, YouGov. The issue of ‘carelessness,’ or what constitutes ‘reasonable care’, comes up regularly in a tax context. The answer will almost always turn on the facts of a particular case; but given the complexities of the UK tax system, a taxpayer taking competent professional advice should generally be considered to have taken reasonable care.
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The former chancellor, Nadim Zahawi, agreed that he had been ‘careless’ in the completion of his tax return for 2017/18, allegedly in relation to a CGT liability connected to the disposal of shares in his former company, YouGov. The issue of ‘carelessness,’ or what constitutes ‘reasonable care’, comes up regularly in a tax context. The answer will almost always turn on the facts of a particular case; but given the complexities of the UK tax system, a taxpayer taking competent professional advice should generally be considered to have taken reasonable care.
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:
.jpg?sfvrsn=335a554c_0 "300 x 250 (MPU)")