The following Corporation Tax guidance note Produced by Tolley provides comprehensive and up to date tax information covering:
From the tax year 2019/20, an income tax charge is applied to certain receipts of non-UK resident persons who are not resident in a full treaty territory, which are in respect of intangible property. The charge is calculated by reference to the extent to which such receipts are referable to the sale of goods or services in the UK. HMRC issued final regulations (SI 2019/1452) on 4 November 2019 amending the legislation. There is also draft guidance which HMRC has issued at the same time which can be found at Offshore Receipts in respect of Intangible Property (ORIP).
A full treaty territory is one where double tax arrangements have been made in relation to that territory which contains a non-discrimination clause. A non-discrimination provision arises where A and B have a double tax arrangement whereby a national of state A is not subject to any taxation (or any requirement connected with taxation) in state B which is more burdensome than the same taxation or requirements of a national of state B in the same circumsta
**Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason.
Access this article and thousands of others like it free for 7 days with a trial of TolleyGuidance.
Read full article
Already a subscriber? Login
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
From 6 April 2015, an individual can elect to transfer 10% of the personal allowance (£1,250 in 2020/21 and 2019/20) to the spouse or civil partner where neither party is a higher rate or additional rate taxpayer. The legislation calls this the ‘transferable tax allowance’ but the GOV.UK website
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
The rent-a-room scheme was introduced in the early 1990s to encourage homeowners to take in lodgers.Fundamentally, the rent-a-room scheme is a relief which means that the rent received by an individual from a lodger (up to a prescribed limit) can be exempt from income tax. If the gross rents are
To view our latest tax guidance content, sign in to Tolley Guidance or register for a free trial.