This case concerns a dispute between Mark Stewart Wyatt and HMRC regarding income and capital gains tax assessments. The tribunal found that HMRC's assessments were invalid as they attempted to tax the same income twice, once as trading income and once as capital gains. The tribunal decided to strike out the invalid assessments and allow time for the new assessments issued by HMRC to be considered alongside the existing appeal. The tribunal also indicated that HMRC may be subject to a costs order for acting unreasonably in defending the proceedings.

Mark Stewart Wyatt v HMRC [2024] UKFTT 00867 (TC)

This podcast discusses the statements made by the Irish Ministers for Public Expenditure and Finance on Budget 2025. The first statement, made by Paschal Donohoe, highlights key achievements of the current Irish government since 2020 and outlines the planned expenditure for the coming year, focusing on social protection, education, healthcare, and infrastructure. The second statement, made by Jack Chambers, focuses on the economic context, specifically addressing the use of "windfall" revenue from the Court of Justice of the European Union judgement and the disposal of the state's shareholding in AIB. It outlines a strategy to direct these funds toward critical infrastructure investment in housing, water, and electricity, as well as announcing tax changes and other measures aimed at supporting businesses and individuals, particularly those facing cost of living pressures. Both statements convey an optimistic outlook for the future, emphasising the government's commitment to ensuring prosperity for all citizens.

Budget 2025 (Ireland)

This podcast discusses is a First-Tier Tribunal (Tax Chamber) decision relating to an Inheritance Tax case. It details an appeal by Marisa Lincoln, the executrix of the estate of Martin Falzon, who died in 2015, against HMRC's determination that certain foreign properties were subject to inheritance tax. The decision examines the legal framework governing inheritance tax, including domicile, beneficial entitlement, and the definition of “settled property”, in the context of Maltese law and English law. The Tribunal ultimately dismisses the appeal, finding that Martin was deemed domiciled in the UK and that the foreign properties were part of his estate and not excluded property.

Marisa Lincoln As Legal Personal Representative Of Martin Falzon v HMRC [2024] UKFTT 00886 (TC)

The podcast discusses a judgment from the UK First-tier Tribunal (Tax Chamber) concerning an appeal by Thariq Mohammed against discovery assessments and penalties issued by His Majesty's Revenue and Customs (HMRC). The appeal covered tax years 2001-02 to 2015-16 and involved numerous issues, including the validity and timeliness of assessments, a claimed partnership with the appellant's brother, the deductibility of legal costs, the applicability of rollover relief, and the appropriateness of penalties for inaccuracies and late filing. The tribunal heard evidence and considered arguments from both parties, ultimately allowing the appeal in part and providing detailed findings on each disputed matter.

Thariw Mohammed v HMRC [2025] UKFTT 331 (TC)

taxworld.co.uk

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