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FTT applies Ramsay to defeat loss creation scheme (Padfield v HMRC)

FTT applies Ramsay to defeat loss creation scheme (Padfield v HMRC)
Published on: 14 January 2021
Published by: LexisPSL
  • FTT applies Ramsay to defeat loss creation scheme (Padfield v HMRC)
  • Why it matters
  • Case details

Article summary

Tax analysis: In Padfield v HMRC, the First-tier Tax Tribunal (FTT) held that arrangements entered into by the taxpayers fell ‘fairly and squarely’ within the Ramsay principle and therefore did not create the losses that they were designed to achieve. or take a trial to read the full analysis.

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