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FTT upholds penalties for invalid BADR claims (Cox and another v HMRC)

Published on: 25 June 2024
Published by a LexisNexis Tax expert

Table of contents

  • Why it matters
  • Case details

Article summary

Tax analysis: In Cox and another v HMRC, the First-tier Tax Tribunal (FTT) dismissed the taxpayers’ appeals against penalties arising from invalid claims to entrepreneurs’ relief (now business asset disposal relief (BADR)). The FTT held that, in making the claims, the taxpayers had failed to take reasonable care and that HMRC’s decision not to suspend the penalties was not flawed.

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