Withholding Tax (or TSP) is like PAYE for certain type of contractors. This was more or less a flat rate earlier. From 1 April 2017, 2 key things have changed:
What is a schedular payment?Schedular payments are payments made to contractors who perform certain activities. These payments are required to have tax deducted but they’re different to salary or wage payments.
Schedular payments apply to contractors across a broad spectrum of industries; from cleaners, farm workers and gardeners, to entertainers, sportspeople, labour-only builders and fishing boat workers. Details of what type of payments can be considered is included in the IRD form IR330C.
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To understand taxation on Angel Investments, one needs to get a clearer profile of an Angel Investor and what Angel Investment is all about.
Generally speaking, an Angel investor is a wealthy individual who invests in entrepreneurial firms. Although angels perform many of the same functions as venture capitalists, they invest their own capital rather than that of institutional and other individual investors. In addition to capital, an angel investor may also provide expertise to early stage businesses. Increasingly angel investors are forming angel networks to share knowledge & risk and pool their investment capital. Angel capital fills the gap in start-up financing between the ‘three Fs’ (friends, family and fools) of seed capital. |
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September 2021
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