The appellant’s appeal against HMRC’s refusal to allow ATED relief for a property interest held in the course of a property development trade was dismissed by the Upper Tribunal as the First-tier Tribunal had not erred in law in determining that the appellant was not carrying on such a trade.

Summary

The appellant’s appeal against the refusal by HM Revenue and Customs (HMRC) to allow annual tax on enveloped dwellings (ATED) relief for a property interest held in the course of a property development trade was dismissed as the First-tier Tribunal (FTT) had not erred in law in determining that the appellant was not carrying on such a trade.

Background

The appellant purchased a residential property in 1993 for £1.25 million. In the period between that purchase and 2007: (a) the property was occupied from time to time by persons permitted to do so by the appellant’s;