Hardy v HMRC ~ Rory Mullan

Rory Mullan of Old Square Tax Chambers represented the taxpayer before the Upper Tribunal in Hardy v HMRC. The taxpayer appealed against HMRC’s refusal to allow capital losses in relation to forfeited deposits. The Upper Tribunal held that contractual rights under a specifically enforceable contract are not assets for capital gains tax purposes with the result that the losses were not allowable. A copy of the decision can be accessed here. [Posted: 03 August 2016]]]>

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