Article summary

Tax analysis: The First-tier Tax Tribunal (FTT) has dismissed the taxpayer’s appeal in respect of a claim for a trading loss that arose as part of a tax avoidance scheme. The FTT gave consideration to the application of the Ramsay doctrine and the question of whether the existence of a tax avoidance motive can convert what is, on all other measures, a trade into something that is not a trade. Sign in or take a trial to read the full analysis.