Innovate Commissioning Services Ltd v Revenue and Customs Commissioners

Income tax – Enterprise investment scheme relief. The Revenue and Customs Commissioners' refusal to authorise the issue of a compliance certificate under the Seed Enterprise Investment Scheme in respect of shares issued by the taxpayer company was based on the fact that the company had not satisfied the requirements of s 257DK of the Income Tax Act 2007. The First-tier Tribunal (Tax Chamber)(the FTT) upheld the Revenue's decision and dismissed the taxpayer's appeal, taking the view that the circumstances that had arisen in the taxpayer's case could not be distinguished from similar cases previously decided by the Upper Tribunal (Tax and Chancery Chamber) which were binding on the FTT.

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