First Tier Tribunal

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Sweet Revenge

In TC05677: Stephen Schechter and another [2017] UKFTT 189 (TC), the UK First-Tier Tribunal (Tax Chamber) ruled, among other issues, on whether two properties owned by the appellants’ company were held as trading stock or capital investments.

The appellants, Stephen and Lawrence Schechter, together with two other family members, own all the shares of a Bahamas company, Vinexsa International Limited (Vinexsa). Vinexsa, in turn, owns two flats in London at 12 Charles Street. Vinexsa is also the sole shareholder of a UK company, Sweet Revenge Limited (Sweet Revenge),

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