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The taxpayer’s father owned three flats which he transferred to the taxpayer by way of a gift.
The relevant documentation showed a transfer date of 2 December 2002 but the beneficial interest on flat B was transferred to the taxpayer in July 2000 while that of flats A and C was transferred in July 2002.
The transfers gave rise to a capital gains tax (CGT) liability which was not paid by the father before he died in June 2003.
HMRC raised a CGT assessment for 2002/03 on the taxpayer’s late father in July 2007. While the tax was agreed it remained unpaid.
In August 2009 the Revenue sent a notice of assessment under TCGA 1992 s 282 (recovery of tax from donee) to the taxpayer requiring payment.
The taxpayer said the assessment was wrong: the valuations...
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