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Payments to employees are not always taxable as remuneration, explains JOHN HODGSON
KEY POINTS
- Nature of payments under ITEPA 2003 s 62
- A payment made to an employee by a person other than the employer may be taxable
- A review of the decided cases on this subject
- When is a payment made for personal reasons?
- The difficulty of finding objective evidence
- Payments made as a gift or appreciation
Over the past few months many privately owned companies and businesses have changed hands in order that 'Mr Company Owner' could capture the benefits of 10% tax on the capital gains he has realised.
Many may have made significant payments to their personal secretaries long suffering servants and other unsung heroes. What is their tax position?
Is the payment 'earnings' ('general earnings') under ITEPA 2003 s 62? This is...
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