The following Employment Tax guidance note Produced by Tolley provides comprehensive and up to date tax information covering:
Employers may use a variety of methods to reward and encourage employees in their work. These are commonly known as incentives, awards or prizes. For the purposes of this note, the term ‘award’ will be used to cover all circumstances. The tax treatment will depend on the type of award and how it is provided; there is no specific legislative provision for awards. This note therefore guides you to the treatment and where to see further detail about the treatment depending on the type and method of provision. The PAYE treatment of particular types of employment income that are not cash is covered in ITEPA 2003, ss 693–702 (Pt 11, Ch 4). This includes cash vouchers, non-cash vouchers, credit-tokens, readily convertible assets, shares and securities. There is more general guidance on benefits and other non-cash earnings in the Non-cash earnings ― ov
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IntroductionA company that is not resident in the UK will only be subject to UK corporation tax if it carries on a trade in the UK through a permanent establishment. Where it does so, it will be subject to UK corporation tax on all profits that are attributable to the UK permanent establishment.
Usually, allowable capital losses can only be set against chargeable gains. If the losses are not fully utilised against gains in the year in which they arise, the excess is carried forward to use against future gains. See the Use of capital losses guidance note for further details.This rule can be
Statutory sick pay (SSP)Statutory sick pay has its origins in the Social Security and Housing Benefits Act 1982, Part 1. Various amendments have been made to this Act to give us the SSP system we now operate.Temporary changes to SSP for coronavirus (COVID-19)New legislation has been put in place in
Duty to prepare estate accountsThe Personal Representatives' (PRs) legal obligation to prepare accounts is set out in Section 25 of the Administration of Estates Act 1925. Their prescribed duties include:when required to do so by the Court, exhibit on oath in the Court a full inventory of the estate