HMRC is consulting until 9 November 2017 on draft legislation to put four existing extra-statutory concessions on a statutory footing. These are: ESC A37 (allowing directors’ fees to be treated as trading income); EIM3002 (allowing professional practitioners to treat incidental employment income as trading receipts); EIM01120 (exempting financial loss allowance paid by public bodies to employees); and EIM61030 (treating payments from medical committees to members as trading income).
HMRC is consulting until 9 November 2017 on draft legislation to put four existing extra-statutory concessions on a statutory footing. These are: ESC A37 (allowing directors’ fees to be treated as trading income); EIM3002 (allowing professional practitioners to treat incidental employment income as trading receipts); EIM01120 (exempting financial loss allowance paid by public bodies to employees); and EIM61030 (treating payments from medical committees to members as trading income).
