The truth about Sharkey. By Keith Gordon
Nobody wanted Clause 34 and Schedule 15 in the 2008 Finance Act; it inserts another layer of complexity into an already tangled web of tax rules. The Treasury maintained that we did though. It said that trade associations and legal and accountancy bodies had all made the request.
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please please please
Please will the Treasury and HMRC read this ? At a time when we are trying to simplify tax law there was a complication here which could have been disposed of by a simple announcement that following ths changes requiring tax return figures to comply with GAAP, in their view Sharkey v Wernher no longer applied. Legislating it made no sense at all.