Reviews

MARK McLAUGHLIN explains why a company's 'trading company' status may depend on the HMRC official considering its Code of Practice 10 application.

IT IS UNFORTUNATE that there is very often a necessity for tax advisers to include phrases like 'it all depends …' and 'subject to …' in their advice to clients. I can imagine that many clients interpret such phrases as 'ifs' and 'buts' and ask themselves 'does he really know what he's talking about?'! I have to confess that when it comes to predicting how HMRC will react in certain situations the answer is 'probably not'!

MARTIN MANN looks at changes in control tests and the effect these may have in common scenarios involving interest and a write off of debts between connected companies.

MIKE TRUMAN offers readers the chance to contribute to a Taxation submission to HMRC's Small Business Review.

WE OFTEN CRITICISE HMRC in Taxation. We think that it is part of our role to articulate the complaints that we know are muttered in tax practitioners' offices up and down the country. So recently we've had a go at form 42 and online filing, amongst other issues.

JOHN TALLON QC assesses the CGT measures proposed in the 2005 Budget.

THE GENERAL RULE is that liability to UK CGT on chargeable gains accruing on the disposal of an asset only attaches to taxpayers who are either resident or ordinarily resident in the UK in the year of assessment in which the disposal is made ( TCGA 1992, s 2(1) ). That general rule is subject 'to any exceptions provided' by the TCGA.