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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HMRC enquiries - Undisclosed company profits taxed as loans to participators
By Ellie MacKenzie
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HMRC
17th September 2012
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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