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Following on from the lengthy debate on UITF 40, I have quite a few professional clients who I believe will be affected by its provisions and it will be in their benefit to claim relief under the spreading provisions. My basic question is under what heading (Schedule D,
Case I or Schedule D, Case VI) is the 'spread' income to be assessed to tax?
Readers' advice on this matter and any other related factors or planning points that I should take into account would be gratefully received.
Query T16,806 — Thinly Spread.
Following on from the lengthy debate on UITF 40 I have quite a few professional clients who I believe will be affected by its provisions and it will be in their benefit to claim relief under the spreading provisions. My basic question is under what heading (Schedule D
Case I or Schedule D Case VI) is the 'spread' income to be assessed to tax?
Readers' advice on this matter and any other related factors or planning points that I should take into account would be gratefully received.
Query T16 806 — Thinly Spread.
Reply by Thicket:
Since the publication of the latest output of the Tax Law Re-Write Project in the form of ITTOIA 2005 the conventional schedules (Schedule D Case I Case VI etc.) are no longer appropriate (though these continue to apply to bodies subject to corporation tax). Chapter...
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