Robert Venables QC and James Kessler (instructed by Beachcroft Stanleys) for the applicants.
Loss relief – Claim – Validity – Refusal of relief on ground that claim not timeously made – No prescribed form for claim – Whether submission of estimated net taxable profits amounting to valid claim for loss relief – Whether claim should contain direct statement that relief being claimed.
Judicial review – Loss relief – Refusal of relief on ground that claim not timeously made – No prescribed form for claim – Submission of estimated net taxable profits within time limits – Claims made in similar form accepted in previous years – Whether Revenue had adopted a course of conduct leading applicant reasonably to believe that informal claims to loss relief acceptable – Whether Revenue acquiesced in such a practice – Whether applicant genuinely believed that such a practice existed – Whether unfair to allow Revenue to resile from such a practice without notice.
Judicial review – Loss relief – Refusal of relief on ground that claim not timeously made – Discretion to allow late claims – Submission of estimated net taxable profits within time limits – Claims made in similar form accepted in previous years – Whether applicant genuinely believed that claims validly made – Whether only reasonable exercise of Revenue’s discretion to allow late claims.