The following Employment Tax guidance note Produced by Tolley in association with Jim Yuill at The Yuill Consultancy provides comprehensive and up to date tax information covering:
Residence is a concept that has always been interpreted differently for tax and NIC purposes. This is even more so since the introduction of the statutory residence test (SRT) for tax which was introduced in FA 2013, Sch 45 for the tax years 2013/14 onwards.
Residence for social security (NIC) purposes is not defined in legislation, but the dictionary definition states that it is “the act or duration of dwelling in a place”. There does not need to be any permanence in the arrangement and the place of residence can change on a regular basis. What is abundantly clear is that residence for tax and social security purposes can be significantly different. For the purpose of the EU social security regulations, residence means habitual residence which is where an individual will have their strongest personal ties. The word ‘stay’ in the EU provisions
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There are several sets of provisions in the Taxes Acts which relate to ‘close’ companies, most of which are anti-avoidance measures aiming to catch transactions between those companies affected and their owners, where there may otherwise be a tax advantage. Broadly speaking, most owner-managed or
IntroductionUK tax must be withheld on UK payments including:•interest•royalties•rental incomeWithholding tax may be reduced under double tax treaties (DTT) or European directives, both of which may be subject to making a formal claim.This guidance note outlines the rules for UK withholding tax, and
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
What is structures and buildings allowance (SBA)?From 29 October 2018, expenditure on constructing a non-residential building or structure, or in certain cases, expenditure on acquiring such a building or structure, qualifies for an SBA. The following note has been updated for the changes announced
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