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

Paula Sparrow

Paula Sparrow is tax director at Butt Miller chartered accountants. She can be contacted by telephone on 01276 25542 or email:


The heat is on
Residential returns

Tax, trusts and tribulations

Reviewed by PAULA SPARROW, Wise & Co.


A Revenue tax calculation recently issued for 1999-2000 did not take account of top slicing relief on an insurance policy chargeable event when calculating the capital gains tax liability. The circumstances of the case are fairly unusual, as the client's income was very low and the chargeable event relatively small, but there were substantial capital gains.

The query published in Taxation, 19 April 2001 at page 76 concerned the possibilities for obtaining mortgage interest relief by transferring a mortgage onto a recently inherited property which the client intends to let.


Taxation, 22 March 2001 included an article by Mike Down and Mike Thexton at pages 593 to 596 concerning the ability of a director to deduct the costs of working from home under section 198, Taxes Act 1988 ('Hot Desking in the Library'). The authors state:

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