Wednesday, December 14, 2016

B & K Lavery Property Trading Partnership vs HMRC [2016] UKUT 525 (TCC)

The 'B&K Lavery Property Trading Partnership' purchased properties before the global credit crunch in 2008. The partnership was required to reduce the value of those investments on its books shortly afterwards in 2009 and 2010. The partnership claimed tax losses in the 2009/10 tax year in accordance with their accounting loss for that period.