HMRC enquiries - Undisclosed company profits taxed as loans to participators
By Ellie MacKenzie
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HMRC
17th September 2012
It is not uncommon for HMRC enquiries into the business accounts of an individual or company to result in additions to turnover and profits. For example, unexplained lodgements into a private bank...
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What is a ‘trade’? – A possible further badge of trade to consider
17th September 2012
It will generally be clear whether a person is carrying on a trade, although there will always be grey areas of uncertainty. There is little help to be found in the tax legislation, which merely...
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