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Why the Anthony Hardy case is important to every practitioner who completes a tax return
KEY POINTS
- A straightforward case and soon dismissed but important implications.
- A deposit was lost because a contract could not be completed.
- The lost deposit was claimed as a deduction from other gains.
- TCGA 1992 s 28 could not be used in support of the loss claim.
- The meaning of an “interest in land” under the new FA 2015 Sch 7.
It would be easy to ignore the recent case of Anthony Hardy (TC4444). Mr Hardy represented himself the First-tier Tribunal noted that the “factual matrix is simplicity itself” and it had no difficulty in dismissing the taxpayer’s contentions in short order.
However for the practitioner who advises clients on capital gains tax the case is of huge importance. Not only does it address...
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