Scottish taxes are far from simple

Scottish taxes are far from simple

Striving for simplicity Professional bodies such as ICAS have long campaigned for taxes to be simplified. But while taxpayers in Scotland pay a wide variety of disparate taxes, simplification is a concept that means different things to different audiences. Some taxes – such as inheritance tax, capital gains tax and (if you call them a. Read more

Successor company could only claim trading losses sustained by predecessor’s business after the succession

Successor company could only claim trading losses sustained by predecessor’s business after the succession

When a company purchased the share capital of another company in which losses had been incurred, ICTA 1988, s 343(3) provided that the purchasing company was only entitled to set those losses against trading income derived from the former business, not against the trading income of the entire enlarged trade. The appellant company ran department. Read more

There is no need for an Employment Status

There is no need for an Employment Status

I recently attended an ICAEW Tax Faculty debate on ‘Employment Status – what’s the answer’. As I listened to the debate, I began to wonder whether in fact there ought to be an answer. The concept of employment arises in three distinct areas, employment law, social security and tax. But it does not work satisfactorily. Read more

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