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Income tax – Emoluments from office or employment. The Upper Tribunal (Tax and Chancery Chamber) upheld the decision by the First-tier Tribunal (Tax Chamber) that the Revenue and Customs Commissioners had been correct to issue a closure notice treating the taxpayer's out of court settlement sum as being chargeable to income tax under Case VI of Sch D to the Income and Corporation Taxes Act 1988, and as not being a capital receipt. Consequently, the taxpayer's appeal against the FTT's decision was dismissed.
Income tax – Emoluments from office or employment. The Upper Tribunal (Tax and Chancery Chamber) upheld the decision by the First-tier Tribunal (Tax Chamber) that the Revenue and Customs Commissioners had been correct to issue a closure notice treating the taxpayer's out of court settlement sum as being chargeable to income tax under Case VI of Sch D to the Income and Corporation Taxes Act 1988, and as not being a capital receipt. Consequently, the taxpayer's appeal against the FTT's decision was dismissed.
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Westgate Wealth Management Ltd is a Partner Practice of FTSE 100 company St. James’s Place – one of the top UK Wealth Management firms. We offer a holistic service of distinct quality, integrity, and excellence with the aim to build a professional and valuable relationship with our clients, helping to provide them with security now, prosperity in the future and the highest standard of service in all of our dealings.
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