UITF 40 and WIP?

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I thought that UITF40 had been settled, and that all WIP, including sole proprietor's own hours, had to be included.
Than I came across the ICAEW advice published in August 2006.(Taxguide 8/06). Para (a) on p8 says sole proprietor WIP does not have to be included!
Are they just referring to overheads? If so it's badly worded.

2007-01-11 22:38:54 · 2 answers · asked by Do not trust low score answerers 7 in Business & Finance ➔ Taxes ➔ United Kingdom

2 answers

2007-01-19 00:29:25 · answer #1 · answered by beaver_la_diva 3 · 0⤊ 0⤋

Your Q makes a welcome change from the lazy dumb pre-teens asking us to do their home-work for them, however it's way beyond me :-)

I think you need specialist advice - suggest you contact your accountant / auditors / local Inland Revenue office.

2007-01-15 12:07:00 · answer #2 · answered by Steve B 7 · 0⤊ 0⤋