The following Employment Tax guidance note Produced by Tolley provides comprehensive and up to date tax information covering:
The amendments introduced in the Taxation of Pensions Act 2014 provide that a dependant can receive a dependants’ flexi-access drawdown pension, a nominee can receive a nominees’ flexi-access drawdown pension and a successor, a successors’ flexi-access drawdown pension.
The operation of flexi-access drawdown means that a successor or nominee can take as much as or as little income from the fund as they wish. They could literally take zero or equally literally take all of it in one go. Tax considerations may determine the choice made as much as need.
Thus we are seeing radical changes about who is able to inherit defined contribution pension funds.
The ability to pass on pension wealth after death from one person to another is indefinite, at least as long as there remains a pens
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Terminal loss relief for trade losses in the final 12 monthsTrading losses incurred by a company in the final 12 months leading up to the discontinuance of trade may be carried back for up to three years from the period beginning immediately before that 12-month period. So if the final accounting
This guidance note explains the general rules surrounding the availability of indexation allowance on the disposal of company assets and provides information on the rebasing rules for assets held on 31 March 1982. For an overview of the general position regarding company disposals, please refer to
Many people work from home either on an informal or a full-time basis. These people can be employed or self-employed, and their employment status affects the expenses they can claim as a deduction from their earnings.When dealing with someone working from home, it is important to remind him that
IntroductionUK resident individuals who are non-UK domiciled can benefit from the remittance basis of taxation. The remittance basis allows for relief from UK taxation for non-UK sources of income which are not brought in (or remitted) to the UK. A remittance is any money or other property which is,
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