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I Phillips; P Phillips; Ivan and Patricia Phillips (a firm) (TC2756)
HMRC issued notices under TMA 1970, s 19A to the taxpayers, in respect of their lettings business. The documents related to bank statements and money market transactions.
The taxpayers appealed late, but the First-tier Tribunal granted it despite the Revenue’s objection because of some “procedural irregularities” in the relevant correspondence.
The tribunal noted that the firm was run through a bank account that was also for personal purposes – although details of the transactions needed by the taxman were “reasonably required” because they related to the lettings business.
But the judge said it would be “unduly onerous” to require the taxpayers to provide money market documents, and removed them from the notices.
The taxpayers’ appeal was allowed in part.
