Ch3: Employment Income Flashcards
(1) Employment vs Self-Employment (2) Earnings Received (3) Allowable Deductions (4) Travel Expenses
1
Q
Presumptions of Employment
A
- Who provides EQUIPMENT?
- DEGREE OF CONTROL - choosing the place of work, hours and method of work.
- Ability to DELEGATE work.
- Hold an INTEGRAL POSITION within an organisation.
- Whether the individual BEARS RISK on the work performed (e.g. financial risk).
- Employment Rights
- Whether they are INSTRUCTED on what to do.
- Individual WORKS for MULTIPLE CLIENTS.
2
Q
Give some examples of Allowable Deductions.
A
- Contributions to Occupational Pension Schemes.
- Insurance Premiums to cover directors and employees liabilities.
- £6 pw WFH Allowance.
- Travelling expenses incurred in the performance of work.
- Donations to charities under the Payroll Giving Scheme.
- Fees and Subscriptions to relevant Professional Bodies (e.g. ACCA).
3
Q
Tax relief is available for accommodation and subsistence expenses incurred in…
A
Temporary workplace for upto 24 months.
4
Q
What is the Mileage Allowance rates?
A
< 10,000 miles = £0.45
10,000 + miles = £0.25
