Pressure Groups' on the Budget
Article Abstract:
Budget submission made by the Confederation of British Industry calls for: tax relief in the year the shares are bought through an Approved Investment Fund; tax relief for share option; abolition of investment income surcharge; and stamp duty and DLT. The National Farmers Union calls for valuatin of agricultural land on the bans of productive value for CTT, introduction of relief husband-and-wife partnership and relief on capital gain when the tenant purchases the Farm. Country Landowners' Association proposes a seventy-five per cent reduction in the value of agricultural land for CTT purposes when it is subject to a conservation agreement. The Association of Independent Businesses suggests an increase of PIID threshold from 8,500 to 14,000 pounds and abolition of Investment Income Surcharge.
Publication Name: The Accountant
Subject: Business
ISSN: 0001-4710
Year: 1984
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Furniss v. Dawson - Now the Dust Has Settled
Article Abstract:
The recent decisions in Furniss v. Dawson and IRC v. W. T. Ramsey Ltd. represent a campaign against tax avoidance schemes. The Ramsay doctrine applies only to tax avoidance transactions. The judgment in Furniss v. Dawson indicates definite limits to tax avoidance operations. According to Ramsay, no distinction is to be drawn for fiscal purposes between the series of steps in a non-binding contract. The decision in Dawson is that Inland Revenue is not entitled under Ramsay to set aside the share exchange and tax the Dawson. Ramsay doctrine is compared to circular transactions and could not be applied where transactions had 'enduring legal consequences'.
Publication Name: The Accountant
Subject: Business
ISSN: 0001-4710
Year: 1984
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