Specialist Tax Regulatory Materials
The UK and Scottish governments have made a landmark agreement to establish 2 new Green Freeports in Scotland.
Jurisdiction(s): England, Northern Ireland, Scotland and Wales
Wholly and exclusivelyFor both income tax and corporation tax purposes, one of the fundamental conditions that must be satisfied for an item of expenditure to be deductible, is that it must incurred 鈥榳holly and exclusively鈥� for the purposes of the trade, profession or vocation. References to CTA
Settlor-interested trustsWhat is a settlor-interested trust?A settlor-interested trust is one where the person who created the trust, the settlor, has kept for himself some or all of the benefits attaching to the property which he has given away. A straightforward example is where a settlor
Class 4 national insurance contributionsWhat is Class 4 NIC?Class 2 and Class 4 national insurance contributions (NIC) are paid by self-employed individuals and partners in a partnership on their profits arising within the UK. This guidance note considers Class 4 contributions. For Class 2
