The following Employment Tax guidance note Produced by Tolley in association with Jim Yuill at The Yuill Consultancy provides comprehensive and up to date tax information covering:
As is the case with income tax, it is not a matter of choice whether an individual is employed or self-employed for NIC purposes. The categorisation position is determined by examining the facts regarding the relationship between the individual and the person for, or to, whom the services are provided.
In the vast majority of cases, it is obvious whether someone is employed or self-employed. However, there may be cases where the position is unclear or where attempts have been made to artificially create a self-employment, thus avoiding the more expensive Class 1 NIC. The Government has made changes to the legislation whereby an individual will be an employee if there is any element of supervision, direction or control. In addition, the IR35 processes in place since 2000 have been strengthened in the public sector (from April 2017) and for large and medium client in the private sector (from 6 April 2021) to ensure that tax and NIC liabilities are not avoided. See the Personal service companies ― overview, Of
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Legislative definition of plant and machineryThe general rule allowing capital allowances on plant and machinery is given at CAA 2001, s 11. There is no statutory definition of the term ‘plant and machinery’ but there is confirmation in the legislation on what constitutes a building or a structure
Trust property, which is the subject of a qualifying interest in possession (QIIP), may become chargeable to inheritance tax on the following occasions:•on the death of the beneficiary with the interest in possession•on the death of the beneficiary within seven years after a transfer or lifetime
Where a donor has made a gift of property and continues to use or benefit (or may benefit) from that property in some way, he may have made a gift with reservation of benefit for the purposes of inheritance tax (IHT).However, this will not be the case where:•a donor makes a gift of cash and the
Close companies ― overviewMeaning of close companyThe tax rules for close companies are intended to address those companies that are closely controlled (ie by the owners and their families) and therefore could be used to manipulate the tax position of its activities and its investors. Therefore,