Per Wimmer has lost an appeal at the First Tier Tribunal (FTT) against £866,105 worth of closure notices relating to his foreign income from the US, Denmark and Australia and undeclared income in relation to UK self-employment, dividends, rental payments and capital gains that were not on his tax return.

These assessments were dated between 2007 and 2021.

The second appellant in this case, Wimmer Financial, was also appealing against closure notices in regard to reallocating more than £250,000 in profits to Per Wimmer, the director of the company.

These discovery assessments were made because ‘travel and subsistence and legal and professional fees were excessive’, and there was a 50:50 split between Wimmer and his company but this was changed to 100% to Wimmer personally ‘due to excess profit allocation rules’.

A COP