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The taxpayers were the settlors and beneficiaries of three trusts established under Guernsey law. The trustee was a professional trust company. The trusts made loans to the taxpayers.
HMRC applied for notices under TMA 1970 s 20(1) requiring certain documents to be produced. The taxpayer complied in respect of some items but said others were not in their possession or power because the trustee was not legally obliged to provide them.
The Revenue applied for penalties to be imposed. The issue then arose as to the meaning of ‘power’ in s 20(1).
The First-tier Tribunal said that for the purposes of s 20 documents were in a person’s power if they could obtain them from another person even if that person had the legal right to refuse to produce them. In...
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