New tax proposal for success fees
New tax proposal for success fees
- 1998
- Financial Times 16 February 1998, 22(1) .
Inland Revenue has decided that work done on a `success fee` basis will be liable for tax only in the event of success. This will significantly reduce the impact of proposed tax changes for partners in firms, in the move to tax being payable on work in progress.
ACCRUALS BASIS
INLAND REVENUE
PARTNERS
SUCCESS FEES
TAX
WORK IN PROGRESS
Inland Revenue has decided that work done on a `success fee` basis will be liable for tax only in the event of success. This will significantly reduce the impact of proposed tax changes for partners in firms, in the move to tax being payable on work in progress.
ACCRUALS BASIS
INLAND REVENUE
PARTNERS
SUCCESS FEES
TAX
WORK IN PROGRESS