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Farmer loses £1.5m sideways loss relief at upper tribunal
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Farmer denied £1.5m of loss relief

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An organic farm that made losses for 17 years was judged not to have a reasonable expectation of profit by the upper tribunal (UT), which overturned a first tier decision to allow sideways loss relief.

22nd May 2020
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In 2018, the first tier tribunal (FTT) allowed Ardeshir Naghshineh [TC06631] to claim sideways loss relief which arose from his farming business for the five tax years 2007/8 to 2011/12 (inclusive). The losses for those years amounted to almost £1.5m in total.

The FTT granted HMRC permission to appeal to the Upper Tribunal (UT) [UT/2018/0129].

Facts of the case

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By Justin Bryant
26th May 2020 13:15

Perhaps if he had made some strategic acquisitions rather than relying solely on organic growth all would have been fine?

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