Special Commissioners of Income Tax 6 September 2007, Spc 00635 (Ferriby Construction (UK) Limited v Her Majesty's Revenue & Customs)

This is an appeal by Ferriby Construction (UK) Limited (“Ferriby”) against amendments issued on 26 June 2006 to the company’s self assessment returns for the years ended 31 July 2002 and 31 July 2003. The effect of the amendment to the return for the earlier year was to convert a claimed loss of £70,069 into a net profit of £20,000.