The following Corporation Tax guidance note Produced by Tolley provides comprehensive and up to date tax information covering:
The creation or ‘grant’ of a lease out of an existing lease or freehold is a part disposal of the existing asset. The capital gains position of the person or company making the disposal (the landlord) and the tenant depends on the length of the lease; whether the lease is a long lease, with a term exceeding 50 years, or a short lease, with a term of 50 years or less. The permutations are summarised in the table below and explained in more detail in the rest of this note.
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IntroductionSubsistence is the amount incurred as a consequence of business travel. Typically it relates to accommodation and meal costs incurred. These amounts are allowed because they are associated with the necessary travel. See the Travel expenses guidance note for more information of when
The basic rule is that all benefits provided to an employee by reason of their employment are taxable unless there is a specific exemption or other rule that means they are not chargeable to tax.ExemptionsThe main exemptions for employee benefits are in ITEPA 2003, ss 227–326B (Pt 4).Below is an
Maintenance payments are payments made by a taxpayer to their former or separated spouse for the maintenance of that former spouse or their children. To obtain any tax relief for maintenance payments, one of the couple must have been born before 5 April 1935 and the payments must be made by virtue
Time for paymentTwo statutory rules apply on death:•tax is ‘due’ six months after the end of the month of death and carries interest from the ‘due’ date until paidThere is a possibility of payment by instalments, but this applies to certain types of property only ― see the ‘Availability of
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