08 September 2005
Correspondence from readers on topical subjects.
UITF 40
I am writing on behalf of the Tax Faculty to explain that the position taken in Mike Leigh's letter ('Feedback', Taxation, 1 September 2005, page 601) is not a tenable one and, if followed, is likely to lead to difficulties with HMRC and cause problems for clients.
The Urgent Issues Task Force (UITF) Abstract 40 is quite clear in its intent.
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