Two taxpayers who both own and let a number of properties have received £300 fixed penalties after having their appeals for the decision to be overturned denied. Sarah Duncan and Khalid Mahmood, both of which were being represented by the same adviser, had received information notices from HMRC issued under Schedule 36, Finance Act 2008, for not notifying HMRC of their properties chargeability.
Whilst both individuals had filed their tax returns, insufficient information was provided to satisfy HMRC's requests, outlined in the initial information notices. Consequently £300 fixed penalties were issued. When the individuals challenged both the notices and the penalties, both were upheld by the tribunal.
The reasoning for the decision and the ultimate failure to overturn the information notices comes in two parts. Firstly, some of the information HMRC requested was statutory records, which the law states much be provided when asked for. Secondly, only limited information was provided in the individuals' tax returns and therefore the information HMRC requested was reasonably required.
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