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Practice Note 122 - 06 Benefits in Kind - Withdrawal of Concession 10 February 2006

    This Practice Note confirms that with the introduction of the general 0% rate of income tax for companies on 6 April 2006, it will no longer be possible in most cases for an employee’s tax liability to be met by an adjustment in the employing company’s income tax assessment, and so the concessionary practice will be withdrawn on that date.

    This Practice Note can be found by clicking here

    M Couch

    Assessor of Income Tax

    10th February 2006

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