Andrew Loan considers HMRC v Salaried Persons Personal Loans Ltd
Andrew Loan considers HMRC v Salaried Persons Personal Loans Ltd
The question of whether a person is 'carrying on a business' can have significant tax implications. For example a limited liability partnership will be transparent for the purposes of tax on income and capital gains while it carries on a business;1 an individual will be liable to pay Class 2 and Class 4 National Insurance contributions on income from a 'gainful employment' other than as an employee which will almost certainly be the case if the individual is carrying on a business;2 whether goods or services are supplied in the course or furtherance of a...
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Andrew Loan considers HMRC v Salaried Persons Personal Loans Ltd
Andrew Loan considers HMRC v Salaried Persons Personal Loans Ltd
The question of whether a person is 'carrying on a business' can have significant tax implications. For example a limited liability partnership will be transparent for the purposes of tax on income and capital gains while it carries on a business;1 an individual will be liable to pay Class 2 and Class 4 National Insurance contributions on income from a 'gainful employment' other than as an employee which will almost certainly be the case if the individual is carrying on a business;2 whether goods or services are supplied in the course or furtherance of a...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
