Specialist Tax Statutory Instruments
This instrument makes retrospective provision, which is necessary in order to ensure that the public service pension schemes remedy set out in PSPJOA 2022 works effectively and that members of public service pension schemes do not pay too much or too little tax as a result of the remedy.
Jurisdiction(s): England, Northern Ireland, Scotland and Wales
Allowable expenses for property businessesGeneral itemsMany of the principles applying to allowable expenses for property businesses are similar to those that apply for trading and the rules for individuals in a property business are generally the same as for companies with some exceptions which are
Special rate pool and long life assetsSpecial rate poolExpenditure on some types of plant or machinery must, if neither annual investment allowance (AIA) nor first year allowances (FYAs) are available, be allocated to a 鈥榮pecial rate pool鈥�. Expenditure to be allocated to the special rate pool
Class 1 v Class 1AClass 1 and Class 1AClass 1 and Class 1A are the categories of NIC that can be charged on expenses reimbursed and benefits provided to employees. These classes are mutually exclusive. A benefit cannot be subject to both Class 1 and Class 1A NIC. Three requirements must be met
Tax Returns