Taxation logo taxation mission text

Since 1927 the leading authority on tax law, practice and administration

The Anita meter

01 June 2006 / Mike Truman
Issue: 4060 / Categories: Comment & Analysis , Companies
MIKE TRUMAN has a look at the Revenue's helpsheet on how to apply UITF 40 and at what the practical implications will be

I'M QUITE HAPPY to leave the recent article by Robert Maas as the final chapter on the principles of UITF 40 but I do want to just pick up on a few practical issues that flow from its application. In particular I want to look at the example of Anita in HMRC's tax return helpsheet on the subject IR 238 (see below).


Anita — original
Anita is a self-employed management consultant. She draws up her accounts to 31 December each year. She has one fee-earning employee who assists her with research at a cost to Anita of £25 per hour.
At 31 December 2004 she and her assistant are half way through writing a report. She estimates...

Only subscribers may read the full article

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.
back to top icon