Case report: payments surcharge upheld at tribunal

In O’Mara v Revenue and Customs [2017] UKFTT 91, Mr and Mrs O’Mara appealed against the decision of HMRC, made under section 268 of the Finance Act 2004 (FA 2004), to refuse to discharge unauthorised payment surcharges imposed on them.

The appellants were directors and 50% shareholders in a company that lent and brokered loans to finance property developments. Both were under 55. The appellants used an arrangement promoted by James Lau, who worked for a firm of independent financial advisers, Wightman Fletcher McCabe, to access their pension funds.