Court rejects zero tax appeal
An accountant claiming to have no taxable income has lost a battle to stop the taxman investigating his affairs
Adesina Olusegun Sokoya appealed to the special commissioners against HM
Revenue & Customs’ battle to force him to reveal the details of his 2004/05
Sokoya refused to provide further financial details following an enquiry by
HMRC, saying that the taxman had made an enquiry ‘into his lifestyle’ not his
tax affairs, but the commissioners dismissed his claim.
The taxman is investigating because his mortgage repayments considerably
exceed his stated income. The return showed income of £4,650 from employment
with Divinus Providentia Corporation Limited, which according to details found
by the taxman, trades as DPCL Accountants and operates ‘subject to guidance of
the Institute of Chartered Accountants’.
The ICAEW, ICAS and CIMA all said he was not a member of their bodies.