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Matalan founder loses legal challenge over CGT discovery assessment

John Hargreaves, founder of  discount retail chain Matalan, has failed in a bid at the Court of Appeal to overturn previous tribunal decisions that he has no right to a separate preliminary hearing over the validity of an HMRC discovery assessment over his tax affairs relating to capital gains over the sale of shares before his appeal against that assessment takes place

Hargreaves was the major shareholder in Matalan, and claimed to have become non-resident immediately before the start of the tax year in which he realised a £84m capital gain on the sale of his Matalan shares.

HMRC raised a discovery assessment under the Taxes Management Act 1970 (TMA 1970), s29 on the basis that Hargreaves had not taken sufficient steps to become non-resident for tax purposes in his 2000/1 self-assessment tax return.

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