Specialist Tax Regulatory Materials
HMRC has updated its Employer Bulletin with a revised start date of the variable payment plan service.
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
Temporary differencesCalculation of temporary differencesThe temporary difference arising in respect of an asset or liability is calculated by comparing the carrying value of that asset or liability with its tax base.IAS 12 uses the concept of taxable or deductible temporary differences. Whether a
VAT registration 鈥� artificial separation of business activities (disaggregation)This guidance note should be read in conjunction with the VAT registration 鈥� compulsory guidance note and is relevant to persons established or resident in the UK. Persons that are not established or resident in the UK
