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.

Methods, Laws, regulations and rules, Employment, Accounting, United Kingdom. Board of Inland Revenue, United Kingdom. Department of Social Security

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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.

United Kingdom, Tuition tax credits, Child support

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