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Ian Conting

ARTICLES

IAN CONTING, a corporate tax manager in industry, looks at section 707, Taxes Act 1988.

INVESTORS IN MARKS and Spencer plc who recently received a circular detailing the company's proposed return of £2 billion to shareholders might have been intrigued by the following paragraph towards the end of the (relatively user-friendly) taxation section:

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NEWS

Automated tracking system for taxpayers could save £36m a year, study shows Welsh income tax rates are unchanged Business expenditure on R&D rises in 2023 HMRC targets landlords who may have undeclared rents Lump sums cannot be returned to pension scheme

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Deadline dates for January 2025

CASES

No extenuating circumstances to extend deadline Delay in issuing penalties was no excuse for late return Sales of occupation income avoidance rules apply Whole of settlement was not subject to tax Payments were taxable as earnings

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