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Income tax – Investment income. The taxpayer had made withdrawals from life insurance policies with Zurich Life (Zurich) that he had invested in. Under the Income Tax (Trading and Other Income) Act 2005, each withdrawal had produced a deemed gain, with the result that he was liable to pay some US$560,000 in tax to the Revenue and Customs Commissioners. That large tax liability was the direct result of the taxpayer selecting the wrong option on the claim form provided by Zurich. The Upper Tribunal (Tax and Chancery Chamber) allowed the taxpayer's appeal against an amendment of his tax returns by the Revenue on the ground of rectification alone.
Income tax – Investment income. The taxpayer had made withdrawals from life insurance policies with Zurich Life (Zurich) that he had invested in. Under the Income Tax (Trading and Other Income) Act 2005, each withdrawal had produced a deemed gain, with the result that he was liable to pay some US$560,000 in tax to the Revenue and Customs Commissioners. That large tax liability was the direct result of the taxpayer selecting the wrong option on the claim form provided by Zurich. The Upper Tribunal (Tax and Chancery Chamber) allowed the taxpayer's appeal against an amendment of his tax returns by the Revenue on the ground of rectification alone.
The Chair of the Bar reports back
Susie Griffin on the admin that keeps barristers from billable work
Clement Cowley, Partner at The Penny Group, explains how global events can influence the performance of pensions and ISAs, and why taking a long-term approach to investing is often the most effective strategy
Mário Barroso, Head of R&D and Method Development at AlphaBiolabs, discusses what family law professionals need to know about hallucinogens, from the main hallucinogenic drugs encountered in family proceedings, to their effects and the testing options available
Harmony Christian Ministries is the latest charity to benefit from a £500 donation from AlphaBiolabs via the company’s Giving Back initiative
By David Green
At the start of her term, Chair of the Bar 2026 Kirsty Brimelow KC set out a series of priorities for the year ahead. One of those priorities was children in the justice system
As the world becomes more digital, Barbara Vinagre Mota examines international research into the mental health consequences of judges’ exposure to graphic and immersive evidence, highlighting the importance of support systems
In an era of patient-centred care and growing concern over misconduct in medical settings, why do women still lack the right to choose women consultants for examination and treatment? Charles Davey investigates
Reviewed by Daniel Barnett
James McNeill Whistler at Tate Britain until 27 September Rothko in Florence at Palazzo Strozzi until 23 August Reviewed by Stephen Cragg KC
