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Does the general anti-abuse rule deserve criticism?
Picking a way through the case of Daniel v HMRC
HMRC do not seem interested in a potential five-figure inheritance tax liability. PETER VAINES wonders why
Domicile
ANDREW ALLEN, and PETER VAINES continue the debate about UITF 40 from previous issues of Taxation.
There has been much theoretical debate over FRS 5, Application Note G (ANG) and the subsequent issue of UITF Abstract 40. I prefer to focus on practical accounting and common sense. This is best illustrated by an example.
Crime pays...
I think that 1 April has come early. I read in the Daily Telegraph that in Holland, a bank robber has been allowed to claim a deduction of £1400 for the cost of the gun he used in an armed robbery in which he stole £4700.
The Court reduced the amount of restitution he had to pay by the cost of the gun on what was said to be “sound legal precedents”.
Peter Vaines
Haarmann Hemmelrath
