August Online Service Updates

Steve Savory Bloomsbury Professional News Leave a Comment

What’s new in our plethora of tax online services? Steve Savory summarises the highlights. The new 2018/19 edition of Tax Planning is particularly welcome at a time when it seems that tax practitioners are beset by an onslaught of technical and procedural change. As General Editor Mark McLaughlin remarks in his Preface to the new edition, ‘Finance Act 2017, Finance …

The employment status minefield

Kye Burchmore Tax and Financial Planning Leave a Comment

Employment status is a hot topic with government consultations underway in 2018 on the issues of employment status and IR35 in the private sector. Add this to the changes that were made in IR35 in the public sector in 2017, the amendment to the agency legislation and subsequent reporting requirements that were imposed in 2014 and 2015 respectively, and this …

Scottish taxes are far from simple

Donald Drysdale General Taxation Leave a Comment

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 tax) national insurance contributions – …

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

Julian Harris General Taxation Leave a Comment

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 stores, and on 18 November …

There is no need for an Employment Status

Robert Maas General Taxation Leave a Comment

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 in any of them. The …