Specialist Tax Statutory Instruments
These聽Regulations聽are made to amend聽the聽Relief聽for聽Creative聽Industries聽(Additional聽Information聽Requirements聽and聽Miscellaneous聽Amendments)聽Regulations聽2024, SI 2024/320 to correct a small number of errors present, including聽the聽previous omission of data items relating to production status and touring schedules, and clarify some parts of聽the聽text relating to聽the聽definition of a tax adviser and聽the聽provision of聽information聽in Table 2.
Jurisdiction(s): England, Northern Ireland, Scotland and Wales
Relief for employee share schemesRemuneration expenses are generally deductible for corporation tax purposes as they are considered to be incurred wholly and exclusively for the purposes of the trade. However, expenses relating to shares are usually classed as capital and are therefore not
Bad debtsBad debts usually arise where goods or services have been provided to a customer, for which payment has not been received within a reasonable or specified time period, or for which the customer is unable to pay. It is necessary to determine the quantum of relief that can be claimed for bad
Payment of the remittance basis chargeRemittance basis chargeThe remittance basis charge is an annual charge payable by 鈥榣ong-term鈥� UK residents for the privilege of claiming the remittance basis.Taxpayers who wish to utilise the remittance basis (but do not qualify for it automatically) must pay
