In Spring Capital v HMRC [2016] UKFTT 671 (22 September 2016) the FTT directed that the payment of the tax in dispute be postponed.
Spring Capital had applied for the postponement of corporation tax payable (under TMA 1970 s 55) as a result of the disallowance of a claim for intangible relief made in relation to the amortisation of goodwill acquired by the company on the transfer of a business. The transfer had been the object of the FTT’s decision in Spring Capital v HMRC [2015] UKFTT 66.
Spring Capital challenged the above decision in relation to two issues: whether there had actually been a transfer for the purpose of FA 2002 Sch 29 para 92; and whether the consequential assessment was valid.
The FTT observed that it was not required to conduct a mini-trial to determine the issues between the parties or...
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In Spring Capital v HMRC [2016] UKFTT 671 (22 September 2016) the FTT directed that the payment of the tax in dispute be postponed.
Spring Capital had applied for the postponement of corporation tax payable (under TMA 1970 s 55) as a result of the disallowance of a claim for intangible relief made in relation to the amortisation of goodwill acquired by the company on the transfer of a business. The transfer had been the object of the FTT’s decision in Spring Capital v HMRC [2015] UKFTT 66.
Spring Capital challenged the above decision in relation to two issues: whether there had actually been a transfer for the purpose of FA 2002 Sch 29 para 92; and whether the consequential assessment was valid.
The FTT observed that it was not required to conduct a mini-trial to determine the issues between the parties or...
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)")