Active: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson m (Add headings.) |
imported>Doug Williamson (Update headings.) |
||
| Line 4: | Line 4: | ||
2. ''Tax'' | 2. ''Tax - types of income.'' | ||
For tax purposes, active income includes wages, salary and business profits. | For tax purposes, active income includes wages, salary and business profits. | ||
| Line 11: | Line 11: | ||
3. ''Tax''. | 3. ''Tax - companies''. | ||
For tax purposes a company is normally defined as active - and potentially liable for Corporation Tax - when it does any one (or more) of the following: | For tax purposes a company is normally defined as active - and potentially liable for Corporation Tax - when it does any one (or more) of the following: | ||
| Line 27: | Line 27: | ||
5. '' | 5. ''Judgement - initiative.'' | ||
More generally, any structure involving relatively more judgement or initiative. | More generally, any structure or undertaking involving relatively more judgement or initiative. | ||
Revision as of 20:39, 25 March 2021
1. Pensions.
Abbreviation for an active member of a pension scheme.
2. Tax - types of income.
For tax purposes, active income includes wages, salary and business profits.
Contrasted with 'passive' income, which is broadly investment income.
3. Tax - companies.
For tax purposes a company is normally defined as active - and potentially liable for Corporation Tax - when it does any one (or more) of the following:
- Carrying on any business activity or trade or profession.
- Buying and selling goods with a view to profit.
- Providing services.
- Earning interest.
- Managing investments.
- Receiving any other income.
4. Investment management - strategies.
Active investment funds engage investment managers to select their investments.
5. Judgement - initiative.
More generally, any structure or undertaking involving relatively more judgement or initiative.
