FTTTx INCOME TAX – loss relief – shares – s 574 ICTA 1988 – money held in director’s loan account – board resolution to allot shares – company secretary instructed to prepare and issue share certificate and to enter allotment in shareholders’ register – due to external circumstances, latter actions not taken – whether shares … Continue reading Saund v Revenue and Customs: FTTTx 3 Dec 2012
Claim for loss relief – section 574 Income and Corporation taxes Act 1988 – was money provided for shares – company records not produced – no share certificate produced – company in liquidation – no convincing evidence of subscription for shares – no prior dealings to support an implied agreement with the company to issue … Continue reading Halnan and Another v Revenue and Customs: FTTTx 7 Sep 2011
SCIT Claim to set capital loss against income under S. 574 Taxes Act 1988 – Appellant’s claim to have a loss of andpound;50,400, resulting from the initial subscription of Ordinary Shares for andpound;400 and the capitalisation of andpound;50,000 of a loan in return for B Ordinary Shares with restricted rights – Respondents contention that the … Continue reading Fletcher v Revenue and Customs: SCIT 29 Sep 2008
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