ACCA p6 fa10 新增知识点.docx

ACCA p6 fa10 新增知识点.docx

《ACCA p6 fa10 新增知识点.docx》由会员分享，可在线阅读，更多相关《ACCA p6 fa10 新增知识点.docx（44页珍藏版）》请在冰豆网上搜索。

ACCAp6fa10新增知识点

4Employmentincome-Part2

Section1.Personalservicecompanies（PSCs）:

Section1.1Introduction:

∙Thereareanti-avoidanceruleswhichpreventworkersavoidingincometaxandnationalinsurancecontributionsbyofferingtheirservicesthroughanintermediary,suchasapersonalservicecompany（IR35provisions）.

∙TheeffectoftheIR35provisionsisthatasalarypaymentmaybedeemedtohavebeenmadetotheworkerattheendofthetaxyearwhichwillbesubjecttoPAYEandNICinthenormalway.

Section1.2Calculationofdeemedemploymentpayment:

∙Onlytakeintoaccountincomefrom‘relevantengagements’（i.e.wheretheworkerwouldhavebeenanemployeeoftheclientiftheyhadnotusedaPSC）.

∙Anumberofdeductionscanbetaken,e.g.5%flatrate,actualsalary,benefitsandemployer'sNIConsalaryandbenefits.

Section2.Taxationofterminationpayments:

[4.5a]

Section3.Shareoptions:

Section3.1Generalinformation:

Thereare3stagesforanyshareoption:

1.Grant:

Theemployergrantstheemployeetherighttopurchasesharesatafuturedateatapricesetatdateofgrant.

2.Exercise:

Theemployeeexercisestherightgrantedatstage1andpurchasestheshares.

3.Sale:

Theemployeesellsthesharespurchasedatstage2.

∙Whereshareoptionsareprovidedtoemployeesthetaximplicationswilldependonwhethertheschemewasapprovedorunapproved.

Section3.2Approvedcompanyshareoptionplans:

∙Canberestrictedtoselectfewemployees.

∙Maximumvalueofoptions£30,000.

∙Optionsmustbeexercisedbetween3and10years.

∙Noincometaxchargeongrantandexerciseoftheoption（providedatMV）.

∙Capitalgainstaxmaybepayableondisposaloftheshares.

Section3.3Unapprovedshareoptions:

∙Noqualifyingconditions.

∙Noincometaxchargeongrant.

∙Incometaxchargeonexercise.

∙Capitalgainstaxmaybepayableondisposaloftheshares.

Section3.4AApprovedsavingsrelatedshareoptionscheme（SAYE）:

∙Anothertypeofapprovedscheme.

∙Opentoallemployees.

∙Employeessavebetween£5and£250（monthly）.

∙Contractfor3or5years.

∙Taxfreebonusattheend.

∙Thesavingscanbeusedtobuyshares.

∙Capitalgainstaxmaybepayableondisposaloftheshares.

Section3.4BEnterprisemanagementinitiativescheme（EMI）:

∙Anothertypeofapprovedscheme.

∙Appliestoqualifyingcompaniesonlyi.e.broadlysatisfyingEISconditions.

∙Optionmustbeexercisedwithin10years.

∙Maximumvalueofoptions£120,000.

∙Maximumtotalvalueofoptionsforcompany£3m.

∙Noincometaxchargeongrantoftheoption.

∙Noincometaxchargeonexerciseoftheoption（providedgrantedatMV）.

∙Capitalgainstaxmaybepayableondisposalofthesharesgranted.

Section4.Shareincentiveplans（SIPs）:

∙Thisschememustbeavailabletoallemployees.

∙Freesharesworth£3,000canbegiventotheemployeebytheemployer.

∙Partnershipsharescanbeboughtbytheemployeewithpre-taxsalaryuptotheloweroff10%ofsalaryand£1,500.

∙Foreachpartnershipsharepurchased2matchingsharescanbegiven.

∙Tobecompletelyincometaxfree,thefreeshares,partnershipsharesandmatchingsharesmustbeheldintheplanforatleastfiveyears.

∙Dividendsofupto£1,500aretax-freeiftheyareusedtobuyadditionalshareswhicharethenheldintheplanforatleast3years.

∙ACGTchargewillarisewhenthesharesaresold.

5EISandVCT

Theenterpriseinvestmentscheme（EIS）–Incometaxrelief:

Conditionsfortheinvestor

∙Theinvestormustsubscribeforshareswhollyincash.

∙Forincometaxpurposestheinvestormustnotbeconnectedwiththecompany,iethroughemploymentorowningmorethan30%inthecompany.

Theenterpriseinvestmentscheme（EIS）–Incometaxrelief:

Conditionsforthecompany

∙Thecompanymustbeanunquotedtradingcompany.

∙Thefundsraisedmustbeusedbythatcompanytocarryoutaqualifyingtrade.

∙Atleast80%ofthemoneyraisedbytheEISshareissuemustbeusedwithin12monthsoftheshareissue.

∙Thegrossassetsofthecompanymustnotexceed£7mpriortonor£8maftertheinvestment.

∙Eligiblesharesmustbenewordinarysharesissuedforgenuinecommercialreasons.

∙Thequalifyingcompanymusthavefewerthan50fulltimeemployeeswhenthesharesareissued.

∙Thequalifyingcompanymusthaveraisednomorethan£2minthe12monthsendingonthedateoftherelevantinvestment.

Theenterpriseinvestmentscheme（EIS）–Incometaxrelief:

Taxreduction

∙Theinvestorreceivesataxreduction.

∙20%×amountsubscribed.

∙Maximuminvestmentqualifyingforincometaxrelief=£500,000.

Theenterpriseinvestmentscheme（EIS）–Incometaxrelief:

CarryingbackEISrelief

∙Ifsharesareissuedatanytimewithinthethetaxyeartheinvestormayclaimtohavethesharestreatedasissuedinthepreviousyear.

Theenterpriseinvestmentscheme（EIS）–Incometaxrelief:

WithdrawalofEISrelief

∙Thesharesmustbeheldforatleast3yearsotherwisetherelief,iethetaxreduction,iswithdrawnandtaxedasincomeintheyearthesharesaresold:

∙Ifthedisposalisnotatmarketvaluetransactionthefullamountofthereliefiswithdrawn,or

∙Ifthedisposalisatmarketvalue,theamountwithdrawnisbasedontheconsiderationreceived.

TheEnterpriseinvestmentscheme（EIS）–CGTrelief:

Exemptionforgains

∙IfsharesthatqualifyforEISincometaxreliefareheldforatleast3years,anygainarisingonthedisposalofthesharesisexemptfromCGT.

∙Ifthesharesaresoldwithin3yearsthegainiscomputedinthenormalway.

TheEnterpriseinvestmentscheme（EIS）–CGTrelief:

Capitallosses

∙AcapitallossarisingfromthedisposalofEISsharescanbesetagainsttheinvestor's:

∙Gains,or

∙Generalincome.

TheEnterpriseinvestmentscheme（EIS）–CGTrelief:

EISCGTdeferralrelief

∙EISdeferralreliefallowsaninvestortodeferchargeablegainsonthedisposalofanyasset.

∙IfEISreliefandentrepreneursreliefarebothavailabletheinvestorchooseswhichofthetwotobeclaimed.

∙TheEISsharesmustbepurchasedintheperiodoneyearbeforeorthreeyearsafterthedisposal.

∙ForCGTpurposestheinvestorcanbe'connected'withcompany（iethroughemployment,orbyholding>30%oftheshares）.

Venturecapitaltrusts（VCTs）:

VCTincometaxrelief

∙Theinvestorisentitledtoataxreductionof30%×amountinvested（maximum£200,000）.

∙Dividendsreceivedaretaxfreeincome.

Venturecapitaltrusts（VCTs）:

Conditions

∙VCTsarelistedcompaniesthatinvestinunquotedtradingcompaniesandmeetcertainconditions.

∙TheVCT'sincomemustcomemainlyfromsharesorsecurities.

∙Atleast70%ofitsinvestmentsmustbesharesinqualifyingholdings.

∙Atleast30%ofitsholdingsmustbeinordinaryshares.

∙Thequalifyingcompanymusthavefewerthan50fulltimeemployeeswhenthesharesareissued.

∙Aninvestmentlimitof£2mapplies.Thismeansthequalifyingcompanymusthaveraisednomorethan£2minthe12monthsendingonthedateoftherelevantinvestment.

Venturecapitaltrusts（VCTs）:

Withdrawalofincometaxrelief

∙Thesharesmustbeheldforatleast5yearsotherwisetherelief,iethetaxreduction,iswithdrawnandtaxedasincomeintheyearthesharesaresold:

∙Ifthedisposalisnotatmarketvalue,thefullamountofthereliefiswithdrawn,or

∙Ifthedisposalisatmarketvalue,theamountwithdrawnisbasedontheconsiderationreceived×30%.

VCTCGTexemption

∙CapitalgainsonthesaleofsharesintheVCTareexempt.

13Capitalgainstax（individuals）-part2

Transfersbetweenconnectedpersons

∙Closerelatives（butnotuncles,auntsandcousins）areconnectedpersonsforCGTpurposes.

∙DisposalproceedsarealwaysdeemedtobeMV.

∙Lossescanonlybesetagainstgainsonothertransferstothesameconnectedperson.

Transfersbetweenspousesandcivilpartners

∙Takeplaceatnogain/noloss.

Incorporationrelief:

Overview

∙Ifaperson（soletraderorpartnership）transfershisbusinesstoacompany,heistreatedashavingmadeadisposalofthebusinessassetsforCGTpurposes.

∙Saleproceeds=Marketvalueoftheassetsatthedateofincorporation.

∙Thekeybenefitofthisreliefistoenablegainsarisingonincorporationofabusinesstobedeferredintothebasecostofthesharesacquired.

∙Thereliefisautomatic,sonoclaimneedstobemade.

∙Anindividualmustspecificallyelectnottoreceiveincorporationrelief.

Incorporationrelief:

Conditionsforincorporationrelieftoapply

∙Thebusinessistransferredasagoingconcern.

∙Allitsassets（otherthancash）aretransferredtothecompany.

∙Theconsiderationiswhollyorpartlyinshares.

Incorporationrelief:

Computingincorporationrelief

∙Step1:

Computethenetchargeablegain:

oForeachchargeablebusinessasset.

oSaleproceedsequalthemarketvalueatthedateofincorporation.

oNetoffthegainsandlossesoneachasset.

£

Marketvalueatincorporation

X

Lessoriginalcost

（X）

Gainbeforeentrepreneurs'relief

X

[13.7a]

∙Step2:

Deductincorporationrelief:

£

Totalgainsfromchargeablebusinessassets

X

Lessincorporationrelief:

Totalvalueofsharesreceived

×Totalgains=Incorporationrelief

（Totalvalueofshares+cash+loanstock）

（X）

ChargeableGain

X

[13.7b]

oFullincorporationreliefwillbeavailableifalltheconsiderationconsistsofshares.

oHowever,wherepartoftheconsiderationcomprisecashand/orloanstock,incorporationreliefwillberestrictedtotheshareelement.

∙Step3:

Reducethebasecostoftheshares:

£

Marketvalueofshares

X

Lessincorporat