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The little known equitable liability option might help some taxpayers in dire straits, says HARRY FULTON
KEY POINTS
- Too late to file returns.
- Determinations were final and conclusive.
- Equitable liability can help if conditions are met.
- Importance of maintaining good records.
Everyone likes quick wins - but sometimes it is the long haul that wins the prize.
At TaxAid the finishing line is getting our clients straight with their tax. To get there our clients may need to get into training as well. But the prize is being able to get on with their lives once they have passed the post.
Miss M's case turned into a marathon of its own but started off quite typically. In January 1997 she had set up a business selling hats.
She got support from the Princes’ Youth Business Trust to get going and understood her obligation to keep records but only traded...
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