Simon Hackett (1) and Edward Hackett (2) v HMRC [2026] UKUT 00036 (TCC)

Upper Tribunal Tax and Chancery Decision of Judge Ramshaw and Judge Brannan on 26 January 2026.

• From: HM Courts & Tribunals Service and Upper Tribunal (Tax and Chancery Chamber)
• Published: 28 January 2026

• Category: Tax
• Release date: 26 January 2026

Read full decision: Simon and Edward Hackett v HMRC - final decision

Income Tax – Compensation for mis-selling of interest rate hedging products – Financial Conduct Authority compensation principles – correct classification of basic redress payments – whether non-taxable lost opportunity costs – no. Whether chargeable to income tax – yes. Whether First Tier Tribunal’s decision invalid for failure to apply logic - no

Published 28 January 2026