Article by Keith Gordon, barrister, chartered accountant and tax adviser. This article appeared in the April 2004 issue of Tax Adviser magazine. The case of Macdonald (HM Inspector of Taxes) v Dextra Accessories Ltd
concerned the dual effect of a business paying an employee a bonus - in the basic case, the bonus would eventually be taxed on the employee, but the employer would obtain a taxable deduction.
To download the article in Adobe (pdf) format, please click on the link below.
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April 2004 by