The following Owner-Managed Businesses guidance note Produced by Tolley provides comprehensive and up to date tax information covering:
These are our brief notes and thoughts on cases published in the last week or so which caught our eye and are likely to be of particular interest to tax practitioners. Full case reports and commentary on most of these cases will be included within our normal reference sources in the coming weeks.
This is the latest in a series of IR35 cases relating to TV presenters, in this case a Sky Sports anchor (C).
It breaks no new ground, with a conventional review of the established tests based on identifying the hypothetical contract between the worker and the client and applying the principles identified in Ready Mixed Concrete to that contract. The result was a comfortable win for HMRC.
It is notable that in 2018, in response to the new off-payroll working rules, Sky informed all its ‘on-air talent’ that they would not be able to engage through a personal service company in future, as they would ‘no longer qualify as self-employed’.
The Tribunal acknowledged that this could be taken as Sky conceding that its contractual relationship with C should have been treated as under a contract of service but HMRC could not rely on this any more than C could rely on the fact that he had been treated as self-employed before the interposition of his PSC.
**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 supply of fuel and power is treated as a supply of goods for VAT purposes. Supplies are fuel and power are normally liable to VAT at the standard rate. However, providing certain conditions are satisfied, it is possible for suppliers to charge the reduced rate of VAT on certain supplies of fuel
Statutory references to ITTOIA 2005 relate to unincorporated businesses and CTA 2009 relate to companies unless otherwise stated.Legal and other professional fees can represent substantial costs to a business. A detailed analysis is often required for the purpose of preparing tax computations as
The transactions in securities (TiS) legislation is anti-avoidance legislation aimed at situations where close company shareholders have engineered a disposal of shares to obtain a beneficial capital gains tax (CGT) rate, ie avoid income tax, on specified transactions.The targeted anti-avoidance
Interest paid on qualifying loans is deducted from the taxpayer’s total income (ie a Step 2 deduction from total income). See the Proforma income tax calculation guidance note.Interest on qualifying loans is usually paid gross by the individual borrower; tax is not withheld at source. This includes