DMWSHNZ v CRC, Upper Tribunal (Tax and Chancery Division)
When to set off trading losses sideways or backwards, and when to carry forward
A woman wishes to buy a property in Florida. She and her husband are 50:50 shareholders of a limited company through which she carries on her trading business. The company is cash rich, so the client is considering a joint purchase of the property
The shares of a trading company are owned by three individuals. One of them wishes to leave. The suggestion is that a new company is formed that will purchase the trade of the existing one and then equalise the remaining shareholdings
Each Taxation writer provides a tetrad of analyses of the chancellor’s announcements
A cafe owner wishes to sell his business, which is operated by his limited company. As director, he is still owed £18,000 from monies previously loaned to the company
Holding shares in a trading company by way of a partnership is not a bar to business property relief
How to fund research and development without losing tax relief
By Alan Pink; £20; hardback; 255 pages; Head of Zeus
HMRC have fixed a problem with their business tax dashboard that caused employment records to merge on the department’s systems.
The error hit some firms that employed a work to do more than one job within the same PAYE scheme, and resulted in erroneous consolidation of the separate employments.
Affected accounts were incorrect on the business tax dashboard – but the Revenue has updated the employer records, which will be displayed as follows:
By Sarah Laing; £98; paperback; 338 pages; Bloomsbury Professional
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