EIM02503 - Employment income: directors바카라 사이트™ fees received by partnerships: exemption from charge to Income Tax under Part 2 of ITEPA: process
As shown at EIM02500, directors바카라 사이트™ fees paid to a member of a partnership may be exempt from charge to Income Tax under Part 2 of ITEPA and charged instead as receipts of the partnership. EIM02501 provides details of the conditions that must be met before this treatment of the directors바카라 사이트™ fees can be allowed.
Where a request for this treatment is received, the application should be dealt with by the team responsible for examining the partnership accounts.
Where the conditions are satisfied, the Inspector should instruct the processing office to issue an 바카라 사이트˜NT바카라 사이트™ coding for the following income tax year. The current year바카라 사이트™s coding should not be amended. The directors바카라 사이트™ fees paid in full as a result of this 바카라 사이트˜NT바카라 사이트™ coding will be included in the Self Assessment as trading income. The coding record for the following year should be noted for issue of an 바카라 사이트˜NT바카라 사이트™ coding at the appropriate time.