Employee share scheme guidance

Inland Revenue (IR) has just released several draft interpretation statements, which individually cover certain aspects surrounding the taxation of employee share schemes: And if all of that wasn’t enough for you to get your teeth into, also released is a reading guide (basically a four-page expansion on my narrative above, so you can decide which […]

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Charities business income exemption IS

Inland Revenue (IR) has released for comment PUB00465: ‘Charities – business income exemption’, which is an interpretation statement that considers the extent to which business income a charitable entity derives is exempt from tax under section CW 42 of the Income Tax Act 2007. For those of you who have assisted tax charities with preparing their income tax returns, […]

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New IS on taxation of trusts released

It may not seem that long ago, 2018 in fact (although scarily whilst seeming just like yesterday, it was actually six years ago!), when Inland Revenue (IR) released a fairly comprehensive interpretation statement surrounding the taxation of trusts – IS 18/01. Therefore, some of you may be a little surprised to hear that IS 24/01 […]

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KPIs are dead: long live Personal Goals

KPIs are short for key performance indicator’s used to measure your employee’s performance. They can be financial, customer, or process-focused. The thing is, generationally, I believe we’ve moved away from using them, and for some businesses, they haven’t even noticed. The catchphrase used to be “work hard, play hard”; nowadays, it’s “work-life balance”. My career […]

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R&D tax loss IS finalised

Inland Revenue (IR) has released its final version of an interpretation statement (IS), which covers the topic of R&D (Research and Developement) loss tax credits. Note that this is a different regime from the R&D tax incentive (RDTI), which was introduced in the 2020 tax year, and a company may be entitled to make claims […]

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