The following Employment Tax guidance note Produced by Tolley provides comprehensive and up to date tax information covering:
The Class of NIC charged in respect of most benefits in kind is Class 1A, but that liability only arises if a benefit is chargeable to tax. This means that if a benefit is exempt from tax, it is also exempt from Class 1A NICs.
The Non-taxable benefits guidance note includes a list of the main exemptions from tax for non-cash benefits. Any item covered by one of those exemptions is also exempt from Class 1A NICs.
As from 6 April 2016, this includes items that come within the general exemption for expenses and benefits that are matche
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Income and gains may be taxable in more than one country. The UK has three ways of ensuring that the individual does not bear a double burden:1)treaty tax relief may reduce or eliminate the double tax 2)if there is no treaty, the individual can claim ‘unilateral’ relief by deducting the foreign tax
Duty to prepare trust accountsUnder the laws of England and Wales, trustees have a duty to account to the beneficiaries for their financial administration of the trust fund. This duty is established by a substantial body of case law. In the case of Armitage v Nurse, Millett LJ stated:“Every
This guidance note considers the capital gains tax implications where shares are sold in exchange for new shares.The consideration paid by a purchasing company to the shareholder(s) for their shares in a target company could be in the form of either:•new shares in the vendor in exchange for shares
Preparatory workBefore completing the Inheritance Tax account for submission to HMRC, the practitioner needs to undertake a comprehensive review of the extent of the estate and its proposed distribution. The work required leading up to the submission of the account is described in detail in the
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