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Chaos theory
This is a tale akin to chaos theory in physics when a butterfly flaps its wings and far away something much bigger happens that a business could not anticipate. Well here is a builder’s jam tart addiction a demolition that left a small brick wall standing and an HMRC tax challenge on the interaction between capital gains capital allowances and capital gains tax losses.
Statutory references are to TCGA 1992 unless otherwise specified.
Scene is set
Hermione Haggerty owner of Barnstoneworth United football club group sat befuddled at the tax challenge from HMRC. She had taken Barnstoneworth up the lower divisions over many years ploughing in a small portion of her personal fortune that she had made from her successful induction coil business in Golden Gordon Ltd. It could be said that she was something of a magnanimous magnet magnate. ...
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