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 …

Status quo?

Kate Upcraft General Taxation Leave a Comment

Kate, Upcraft, one of the contributors to our Payroll Management Manual takes a look at the recent rash of employment status cases and what the future might hold From the perspective of court rulings, it does seem as if the issue of employment status is on a repeating loop at the moment. But the subject of employment status is anything …

One Month in a Minute: June 2018

Lee Sharpe General Taxation Leave a Comment

Draft legislation for Finance (No 3) Bill The government announced on 11 June that it will publish draft clauses for Finance (No 3) Bill on 6 July 2018, along with accompanying explanatory notes, tax information and impact notes, responses to consultations and other supporting documents. All publications will be available on the gov.uk website. Making Tax Digital: even represented businesses will need …