Tax Position

 

Tax position is defined by the Finance Act 2008, Sch. 36, para. 63 (1) and 64 as a person’s position with regards to the following:-

 

    • Past, present and future liabilities to tax.

 

    • Penalties or other amounts payable in connection with any tax

 

    • Claims, elections, applications and notices in connection with any tax.

 

 

 

A person’s tax position includes their position with regards to the following:-

 

    • Income tax including deductions made under PAYE and the Construction Industry Scheme (CIS)

 

    • National Insurance contributions

 

    • Capital Gains Tax

 

    • Corporation Tax

 

    • VAT

 

    • Relevant foreign tax

 

 

 

Relevant foreign tax is defined by Para. 63 (4) as:-

 

    • Tax of any EU member state covered by the exchange of information provisions under the Directive of the Council of the European Communities dated 19th December 1977.

 

    • Any tax or duty of a non-EU member state covered by enforcement provisions made under FA 2000 s. 173.

 

 

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