When a company purchased the share capital of another company in which losses had been incurred, ICTA 1988, s 343(3) provided that the purchasing company was only entitled to set those losses against trading income derived from the former business, not against the trading income of the entire enlarged trade. The appellant company ran department stores, and on 18 November ... Read More The post Successor company could only claim trading losses sustained by predecessor’s business after the succession appeared first on Bloomsbury Tax Online.

I recently attended an ICAEW Tax Faculty debate on ‘Employment Status – what’s the answer’. As I listened to the debate, I began to wonder whether in fact there ought to be an answer. The concept of employment arises in three distinct areas, employment law, social security and tax. But it does not work satisfactorily in any of them. The ... Read More The post There is no need for an Employment Status appeared first on Bloomsbury Tax Online.