In I & Mrs P Phillips v HMRC (TC02756 – 27 June) HMRC issued notices under TMA 1970 s 19A to a married couple who operated a property lettings business. The notices required the production of bank statements and statements of money market transactions. The First-tier Tribunal upheld the requirement to produce bank statements. Judge Kempster observed that the couple’s business was ‘run through a bank account that also includes items of personal expenditure’ and held that ‘details of the transactions in that bank account are reasonably required by HMRC as they relate at least in part to transactions of the letting business’. However he allowed the appeal against the requirement to produce money market statements finding that ‘it would be unduly onerous to require the appellants to provide those other documents’.
In I & Mrs P Phillips v HMRC (TC02756 – 27 June) HMRC issued notices under TMA 1970 s 19A to a married couple who operated a property lettings business. The notices required the production of bank statements and statements of money market transactions. The First-tier Tribunal upheld the requirement to produce bank statements. Judge Kempster observed that the couple’s business was ‘run through a bank account that also includes items of personal expenditure’ and held that ‘details of the transactions in that bank account are reasonably required by HMRC as they relate at least in part to transactions of the letting business’. However he allowed the appeal against the requirement to produce money market statements finding that ‘it would be unduly onerous to require the appellants to provide those other documents’.
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