Malcolm Gunn

Introduction to this week's issue by MALCOLM GUNN.

IF YOU ARE worried that your copy of Taxation this week has apparently got mixed up at the printers with Colour Painting Today or Designers World, let me set your mind at rest straight away. At Butterworths Tolley we decided that there was no real reason why your professional reading has to look like it is produced each week for the special benefit of Monty Python's famous accountant, aspiring to be a lion-tamer.

MALCOLM GUNN FTII, TEP explains an 'emerging principle' of interest to trustees: re Hastings-Bass (deceased)

MALCOLM GUNN FTII, TEP discusses self-assessment enquiries and notices to produce background paperwork.

MALCOLM GUNN FTII, TEP reviews the 2001 Pre-Budget Report.
If you enjoy mysteries, puzzles, enigmas and whodunnits, this was not the Pre-Budget Report for you. In fact one has to dig very deep into all the paperwork to find anything which has not been announced, or indeed reannounced, already. Newspaper headlines focused on the 'debate' – i.e., 'prepare for this to happen'– about raising taxes to fund the National Health Service but in truth it comes as no surprise that within months of an election some unpalatable truths are finally divulged by the victorious party.

MALCOLM GUNN FTII, TEP examines the changes to the enterprise investment scheme in this year's Finance Act.

I WAS RECENTLY asked a very simple question by someone who had invested in an enterprise investment scheme company in 1999. What he wanted to know was when will he be finally out of the dreaded value received rules in relation to his share subscription. I am not going to admit here how long I spent looking up the answer, at least not without having a considerable volume of wine poured down my throat beforehand.

MALCOLM GUNN FTII, TEP examines the principles underlying Class 1A National Insurance contributions.

AS I LEARNT during my time working at a firm of solicitors, in drafting a document you can give terms or persons to be regularly referred to in it any definition you like, however appropriate or inappropriate. If you wanted to, you could therefore have something like: 'This deed is made between Mrs Beatrice Growler (herein after called "the old battleaxe") and Mr George Growler (herein after called "the mean machine") and their son Kevin Growler (herein after called "the hopeless specimen")'.

MALCOLM GUNN FTII, TEP discusses forward contracts with the Revenue.

ONE OF THE most enjoyable, and perhaps amazing, things about working in tax is its ability to spring surprises. It is not like growing tomatoes or building cupboards which are both established and well defined arts. With the tomatoes, you know that the more muck you throw on, the bigger they grow. With the cupboard, the more carefully you measure the bits of wood, the less wobbly it will be when you have finished.

The Law is an Ass!

Malcolm Gunn FTII, TEP discusses the share identification rules and capital gains tax notional disposals.

My last article in this illustrious magazine was, so I said, my wild idea for the week. After reading what follows here, readers might conclude that I have now completely left my senses. Or you might find this all totally logical and reasonable. I promise you that you will fall into one camp or the other and that there is no middle ground!

A major mistake?