The importance of being earners
Article Abstract:
Accountants in the UK often must confirm whether a worker is self-employed in order to make a case before the Inland Revenue and the Department of Social Security that PAYE is not applicable. To ensure compliance and minimize exposure to a challenge from tax authorities, accountants must have a thorough working knowledge of a client's business practices because the basic precepts of UK taxation law, the nature of trading and employment, are poorly defined by the Tax Acts. The test of economic reality, whether a person is performing the business on their own account, is central to a determination of self-employment. Factors to be considered include: the nature of the service contract; the degree of integration with an organization; and the existence of mutual obligations.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1989
User Contributions:
Comment about this article or add new information about this topic:
Sherdley v Sherdley - yes please and no thanks
Article Abstract:
Child custody laws and tax relief rules in the UK have been greatly affected by a judgment recently handed down by the House of Lords in the case of Sherdley v. Sherdley. In that case, a man who had been given custody of his children sought to an order against himself to make payments to his children's schools. The man's purpose for doing this was to obtain tax relief for himself. The House of Lords allowed his appeal. The decision of the Lords has several tax advantages for all divorced parents in the UK, and leads to greater equality between divorced fathers and mothers, but there is some question as to whether the ruling is equitable to the taxpaying public as a whole.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1987
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: The hazards of being a director. The Financial Services Act and the auditor. Taxation: tinkering or reform?
- Abstracts: Be alert to the possibility of management fraud. What does reasonable care and skill entail? A contribution the negligent should make
- Abstracts: Self-regulation in practice. Staying in the air when the pilot leaves. Which category are you in?
- Abstracts: The taxation of foreign exchange gains and losses. Institute discussion with the Inland Revenue
- Abstracts: An empirical investigation of the market for Comex gold futures options. Default premiums in commodity markets: theory and evidence