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Faux amis

15 June 2006 / Rebecca Murray
Issue: 4062 / Categories: Comment & Analysis , Capital Gains , Land & property
REBECCA MURRAY warns those forming UK groups to beware of the 'false friends' that can cause tax confusion.

THERE ARE MANY things that can leave you deflated when learning another language in particular the French one. Faux amis dialects and regional accents are just three examples. 'Actuellement' or rather en fait forget foreign languages trying to grasp the nuances of tax legislation on something as simple as groups is enough to leave you begging for mercy (no pun intended).

So just as trying to order 'du pain' in Provence without the 'pang' could mean returning to the family with the wrong sort of dough forming a group for UK tax purposes could leave you with a group for one tax purpose and a right old mess for another.

This article points out some of the faux amis and other features of the group tests dialogues.

In the group relief group scenario shown Co 1 has no...

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