Issue: Vol 156, Issue 4038

MIKE TRUMAN is not impressed with his Pre-Budget Report pack, and wants his money back. And come to think of it, he's not that impressed with the report itself …

JOHN T NEWTH FCA, FTII, FIIT, ATT introduces some lighthearted fare for the festive season

TaxAid is called on by ever increasing numbers of desperate taxpayers, say PHILIP and SARAH McNEILL, so your help is more important than ever

But in CHRIS WILLIAMS' Christmas tale, will Santa get some cheer out of the taxman? Read on.

PHILIP FISHER reviews Gordon 'Scrooge' Brown's Pre-Budget pantomime

'If the assets and trade are sold, the directors will suffer a substantial corporation tax charge and another charge to extract the profits'

'I am confused and do not know how to complete my 2004-05 tax return'

In certain situations, the legislation permits such purchases to be treated as not being a distribution so that the disposal falls to be taxed under the capital gains tax rules.