The following Personal Tax guidance note Produced by Tolley provides comprehensive and up to date tax information covering:
Ordinary residence was abolished from 6 April 2013. There are transitional provisions for up to three years for those who are not ordinarily resident in the UK and are adversely affected by the changes. You should consider this when advising on this subject.
This guidance note considers the application of the ordinary residence to people leaving the UK in the tax years up to 5 April 2013.
The tax rules on UK ordinary residence are explained in the Ordinary residence - years to 5 April 2013 guidance note, and it is recommended that you read that note first. The transitional rules are discussed in the Ordinary residence - transitional rules (2013/14 to 2015/16) guidance note.
You may also find the Residence - issues on leaving the UK up to 5 April 2013 guidance note useful.
The position for those coming to the UK before 6 April 2013 can
**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
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
This guidance note provides details of quarterly instalment payments (QIPs) for corporation tax purposes and which companies need to pay their tax liabilities in this manner.Generally, corporation tax is payable nine months and one day after the end of the relevant accounting period. However, large
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,
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
To view our latest tax guidance content, sign in to Tolley Guidance or register for a free trial.