Tax on rental profits
13 Sep, 2018
A taxpayer, Miss Akan, appealed to the First Tier Tribunal (FTT) against assessments in relation to Income Tax, Capital Gains Tax and penalties relating to income arising from, and from her disposal of, 15 Binnie House, London SE1. The underlying facts in
this case are complex. Miss Akan grew up at 15 Binnie House, a third floor flat where her mother was a tenant of the local council. When her mother grew older she was moved to a ground floor flat and Miss Akan took over the tenancy of No 15.