Sorry just to be clear they can;t be clobbered for tax avoidance but I meant

whether something is tax avoidance or tax evasion. Its the latter that is illegal.

In gthe Ingenious media case as I understand it one of the main issues was whether the expenses incurred in investing in these films were capital or revenue expenses as only the latter can be offset against income tax. The court found they were capital expenses so could not be written off although even they said it was a reluctant conclusion and produced a result that was possibly unfair having regard to usual accounting practice.

Posted By: Jim on February 21st 2018 at 08:47:02

Message Thread

ww2? this is unreal. (General Chat) - protheroe fitzgibbon, Feb 21, 06:17:12
- Pretty much how it is proth.... (General Chat) - Men without hats, Feb 21, 07:39:19
  - I' appreciate i'm probably in a minority here but I have some sympathy for the "investors" (General Chat) - Jim, Feb 21, 08:43:08
    - I agree with you Jim (General Chat) - SimonOTBC, Feb 21, 09:07:51
      - but the law is only a reflection of our moral code of conduct (General Chat) - CWC, Feb 21, 10:43:09
        
        Yes, but there is a divergence between the two at the moment (General Chat) - SimonOTBC, Feb 21, 11:11:35
    - Sorry just to be clear they can;t be clobbered for tax avoidance but I meant (General Chat) - Jim, Feb 21, 08:47:02
      - Hang on Gents (General Chat) - ghostof barry butler, Feb 21, 10:08:12

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