HMRC Brief 12/09 issued on 31 March (see http://www.lexisurl.com/9O5jE) is entitled 'Re-classification of claims to capital allowances'. In HMRC's words the Brief: 'clarifies the HM Revenue & Customs (HMRC) view that once a business has exercised its choice to claim one type of capital allowance rather than another that choice may not be revisited and effectively reversed in respect of expenditure incurred in a closed year under the “error or mistake” provisions'.
Misdirection concession withdrawn
Extra-statutory concession 3.5: 'Misdirection' gave the view of HMRC of the circumstances in which HMRC would regard itself as bound by incorrect advice given to customers in...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
HMRC Brief 12/09 issued on 31 March (see http://www.lexisurl.com/9O5jE) is entitled 'Re-classification of claims to capital allowances'. In HMRC's words the Brief: 'clarifies the HM Revenue & Customs (HMRC) view that once a business has exercised its choice to claim one type of capital allowance rather than another that choice may not be revisited and effectively reversed in respect of expenditure incurred in a closed year under the “error or mistake” provisions'.
Misdirection concession withdrawn
Extra-statutory concession 3.5: 'Misdirection' gave the view of HMRC of the circumstances in which HMRC would regard itself as bound by incorrect advice given to customers in...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
