An athletic look at the taxation of non-resident sportspeople’s endorsement income
MPs ought to actually look at the provisions of the Finance Bill rather than just use them to score political points
As announced in the 2012 Budget, small businesses, those with receipts not exceeding the VAT registration threshold, will be able to use the cash basis, rather than accounts prepared on an accruals basis, when calculating their taxable profits.
The change will mean firms will not need to adjust for debtors, creditors and stock, and they will generally not have to distinguish between revenue and capital expenditure.
The Taxation team offers a first reaction to the chancellor's tax measures
The government’s plans for a third employment status continue to change, with today’s Budget introducing a further tax break.
Workers who sign employee-shareholder contracts will pay no income tax or National Insurance (NI) on the first £2,000 of shares they receive from their employer company, the Treasury announced.
The term “ordinarily resident” has been removed from regulation 15 of the Capital Gains Tax Regulations 1967, under newly published draft regulations that have also eliminated the requirement that a person must be resident or ordinarily resident or carry on a trade in the UK to be joined as a third party to an appeal or make an application to be joined.