The decision of the Upper Tribunal in Eclipse confirmed that the film partnership in that case was not trading. As Chris Bates and Judy Harrison explain, the decision is also important for what it tells us about the Upper Tribunal’s ability to hear appeals.
The House of Lords economic affairs committee’s Finance Bill sub-committee has invited the submission by 23 January of evidence on the taxation of partnerships.
Discount loans to employess
Calculation of business profits by HMRC
Negligible value claim on shares in a company which is still trading
Was a film partnership trading?
Draft legislation is to be included in Finance Bill 2014 to counter tax avoidance through the use of a partnership, but with more people being affected than previously thought, there is more thinking to be done, says James McCredie.
Michael Avient answers a query on the payment of tax on trading losses that are the subject of an enquiry.
By George Bull
Loan to employee