E4.1014 Step Four—Capital Allowances

Home / Simons-Taxes /Personal and employment tax /Part E4 Employment income /Division E4.10 Provision of services through an intermediary (IR35) /The deemed employment payment / E4.1014 Step four—capital allowances

Commentary

Personal and employment tax

A deduction under step four in calculating the deemed employment payment is available for expenditure incurred by the intermediary to the extent that the worker would have been able to claim capital allowances personally had the worker been an employee of the client and incurred that expenditure himself.

The range of capital allowances available to an employee is much narrower than would be available

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B3.325 General exclusions—first-year qualifying expenditure

C3.1814A CGT exempt assets—qualifying corporate bonds (QCB)

C2.1020 Employment-related securities options and capital gains

A4.214 Claims following further assessments—income tax and capital gains tax

I3.750 POAT—introduction to existing arrangements

B5.123 BPS—negligible value claims

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