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Taxpayer loses 120k expenses claim

A taxpayer who claimed self employment expenses of £120,000 against income of £5,000 has lost a First Tier Tribunal (FTT) appeal against HMRC’s refusal to allow the deductions.

Taxpayer loses 120k expenses claim
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  • Shared by Accountancy Daily
  • March 20, 2020
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Alistair Jordan challenged a closure notice for the 2013/14 tax year, which saw HMRC disallowing a professional fees and subscription claim of £19,128 and ‘value adding services’ self employment expenses of £120,000. 

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