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05 March 2013 / Pete Miller
Issue: 4393 / Categories: Comment & Analysis , Employees , Income Tax

A Readers’ Forum question resulted in clarification of negative earnings and employment losses

KEY POINTS

  • A question on the subject of negative earnings leads to a tribunal hearing.
  • Part of a signing bonus had to be repaid by the employee when he ceased employment.
  • The calculation of net taxable earnings in accordance with ITEPA 2003 s 11.
  • The concept of negative earnings.
  • Relief for employment losses under ITA 2007 s 128.

Four years ago I wrote an article about employment losses in response to a Readers’ Forum query on the subject. After publication I was contacted by an accountant whose client was in a similar situation.

Cutting to the chase that client’s case (Mr Julian Martin (TC/2010/2791 and TC/2011/3869)) has just been heard by the First-tier Tribunal with the decision in favour of the...

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