The following Employment Tax guidance note Produced by Tolley provides comprehensive and up to date tax information covering:
For the private sector, rules come into force on 6 April 2021 in relation to the engagement of off payroll workers ― see the Off payroll working (IR35) in the private sector ― overview guidance note.
Legislation to define what a small company (or other entity) is applies from April 2021. Any private entity that is not small will be caught by the off payroll working rules. HMRC guidance is available on GOV.UK.
For the purposes of this legislat
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The substantial shareholding exemption (SSE) provides a complete exemption from the liability to corporation tax on the gains generated from qualifying disposals of shares and interests in shares by qualifying companies. Conversely, if losses are generated by the disposal and the SSE conditions are
This guidance note explains the general rules surrounding the availability of indexation allowance on the disposal of company assets and provides information on the rebasing rules for assets held on 31 March 1982. For an overview of the general position regarding company disposals, please refer to
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
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
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