Article by the Technical Officers:
Liz Lathwood and Anne Wright (Personal Taxes)
Colin Davis (Corporate and International Taxes)
Charles Barcroft (Indirect Taxes)
John Stockdale (Capital Taxes)
This article appeared in the December 2005 issue of Tax Adviser.
Below is reproduced the guidance on tax return disclosxure that was published by the professional bodies on 15 September 2005 in the light of the High Court decision in
Arctic Systems. In September it was thought that the Court of Appeal case would not be heard until mid-January 2006 and guidance was needed for those completing tax returns for 2004-05.
We have now heard that the case was brought forward and the hearing took place on 29 and 30 November 2005. As the guidance indicates (see para 6), should judgment be given before 31 January 2006, then members should review the position in the light of that judgment.
Technical Department
020 7235 9381
December 2005 by CIOT Technical Officers
