Richard Curtis

RICHARD CURTIS provides a brief introduction to the recently introduced Income Tax (Trading and Other Income) Act 2005.

RICHARD CURTIS refuses to go quietly when considering tax and criminal activities.

AL CAPONE SUPPOSEDLY said: 'The income tax law is a lot of bunk. The government can't collect legal taxes from illegal money'. This came to mind on seeing the ' Loose End ' from Peter Vaines ('Crime pays...', Taxation , 24 February 2005, p503) — reporting that a bank robber in Holland had been allowed to deduct the cost of the gun from the restitution that he had to make — and made me wonder what were the tax implications of such activities in the UK.

Time's Up

The article by Richard Curtis, ' It's Just a Matter of Timing' ( see Taxation , 24 February 2005, p512) is a very useful reminder of the need and basis for deferred tax provisions. On page 514, the article says that 'the issue of deferred tax will not usually arise in the case of sole traders and partnerships'.

RICHARD CURTIS provides a basic guide to deferred tax for non-accountants.

IF YOU WORK in tax, but have not trained as an accountant, then you may find accounts something of a closed book. In fact, you may have this in common with many clients, whose main interest in their annual business accounts is as a stepping-stone towards quantifying their annual tax liability.

RICHARD CURTIS explains the work of Revenue contact centres.

Tax Case

Replacement Loans

RICHARD CURTIS reviews the decision in Robson v Mitchell.

MR ROBSON WAS the sole director and shareholder of a property development company, which had an overdraft of £250,000. Amongst other work, the company developed 39