Blackwell v Revenue and Customs Commissioners

Capital gains tax – Assessment. The Upper Tribunal (Tax and Chancery Chamber) allowed the appeal by the Revenue and Customs Commissioners against a decision of the First-tier Tribunal (Tax Chamber) which had allowed the taxpayer's application under s 38(1)(b) of the Taxation of Chargeable Gains Act 1992 for a deduction for the sum of £17.5m, acquired when the taxpayer had disposed of his shares in a publishing company.

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