Specialist Tax Regulatory Materials
The Chancellor of the Exchequer delivered a fiscal statement to the House of Commons, outlining cuts to income tax, reversal of the NIC increases, scrapping of the planned increase in corporation tax, permanent 拢1m annual investment allowance, unwinding of the 2017 and 2021 off-payroll working rules changes, and cuts to SDLT.
Jurisdiction(s): England, Northern Ireland, Scotland and Wales
Payments to trust beneficiariesThis guidance note considers the trustees powers to make payments and whether the payment made is income or capital.This guidance note is designed to give outline and background for accountants and tax advisers who deal with clients establishing trusts. It is not
Non-business expensesIntroductionIn order for an expense to be tax deductible it must be incurred because of an employee鈥檚 employment. Any non-business related expense is, therefore, not relievable except in some very particular circumstances.This guidance note deals with three separate issues. The
Interest on late paid taxIntroductionInterest on late paid tax is a compulsory charge set out in legislation to reflect the interest which would have accrued to the Exchequer had the correct amount of tax been paid at the right time.Harmonised legislation was introduced in 2009 to:鈥et statutory
