The Enactment of Extra-Statutory Concessions Order, SI 2018/282, puts four existing ESCs on a statutory footing with effect from 6 April 2018. These are:
ESC A37 (treating directors’ fees as trading income);
EIM3002 (treating professional practitioners’ incidental employment income as trading income);
EIM01120 (exempting financial loss allowance paid to employees by public bodies); and
EIM61030 (treating payments from medical committees to members as trading income) which HMRC also considers to be covered by the legislation for EIM03002 and EIM01120.
HMRC consulted on these changes between September and November 2017.
The Enactment of Extra-Statutory Concessions Order, SI 2018/282, puts four existing ESCs on a statutory footing with effect from 6 April 2018. These are:
ESC A37 (treating directors’ fees as trading income);
EIM3002 (treating professional practitioners’ incidental employment income as trading income);
EIM01120 (exempting financial loss allowance paid to employees by public bodies); and
EIM61030 (treating payments from medical committees to members as trading income) which HMRC also considers to be covered by the legislation for EIM03002 and EIM01120.
HMRC consulted on these changes between September and November 2017.
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