SPEED READ At first sight Kellogg Brown & Root Holdings (UK) Limited v HMRC looks like just another tax case decided on orthodox lines. Examined at more closely, however, the decision exposes the regime for limiting the use of capital losses as bizarre and impractical, an illustration of much of what is wrong with the tax system.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
SPEED READ At first sight Kellogg Brown & Root Holdings (UK) Limited v HMRC looks like just another tax case decided on orthodox lines. Examined at more closely, however, the decision exposes the regime for limiting the use of capital losses as bizarre and impractical, an illustration of much of what is wrong with the tax system.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes: