HMRC will not simply be able to open a discovery assessment if an investigation opportunity has fallen out of the 12-month window, according to an upper tribunal ruling.
Tax specialists Gabelle said that Revenue V Charlton  UKUT 770 (TCC), which ruled HMRC was not entitled to make an discovery assessment in the case of three appellants who declared they were part of a tax avoidance scheme in their AAg1 forms, is significant to tax advisers.
In the case, the three appellants had declared they were part of the scheme to create a capital gains loss on the white space of the tax return, under DOTAS rules, including the SRN number.
The declaration included details of the facts of the case, but not...
About Rachael Power
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