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Personal arrangement

19 February 2010
Issue: 4244 / Categories: Tax cases
Desmond John Thresh (TC343)

The appellant a builder traded through Hunt’s Construction Ltd of which he was sole director and shareholder.

In 2004 a newly built cottage was transferred to him by a third party Mr B.

This was the result of an agreement between the company and Mr B whereby he provided land for the company to develop three cottages. He bore the planning costs architect’s fees etc while the company paid for all construction work.

On completion two of the plots would be transferred to the company. However this was later changed because the appellant decided to pay for half of the developments costs himself so that he could take one of the two cottages.

The cottages were built and as agreed Mr B transferred one to the company and the other to the appellant. In 2006 ...

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