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M Shakeel (TC4576)
The taxpayer was the proprietor of a restaurant. In November 2010 HMRC opened an enquiry under TMA 1970 s 9A into the 2008/09 tax return. After five meetings in March 2013 HMRC concluded that adjustments were required in respect of purchase invoices and petrol receipts a balancing figure of “capital introduced” and an unidentified cheque deposit. After another meeting a closure notice was issued and a 22.5% penalty was charged.
The taxpayer appointed a new accountant who agreed the adjustment on the purchase invoices and petrol receipts but not the other items. HMRC reviewed their decision and confirmed it. The taxpayer appealed.
HMRC argued that although the taxpayer had argued that the capital introduced was loans from his brothers no evidence in the way of their bank statements had been...
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