|
|
01 Jun 2011
THE DEFINITION of an 'incapacitated person' could be revised, putting the future of terms enshrined in law such as 'lunatic' and 'idiot' in doubt.
The HM Revenue & Customs consultation seeks to modernise the definition of 'incapacitated person' for direct tax purposes and is seeking comment for an alternative approach.
Further reading
Those covered by the definition do not need to tell HMRC about their tax affairs or pay tax on their earnings; those duties are transferred to a parent, guardian or equivalent.
"We wish to move away from terms that carry the stigma attached to the words used in the current definition," states HMRC in its consultation.
The consultation ends on 16 August.
You may also like
Search thousands of financial jobs:
Search thousands of financial jobs:
Careers
Search for jobs
Click to search our database of all the latest accountancy roles
Create a profile
Click to set up your profile and let the best recruiters find you
Jobs by email
Sign up to receive regular updates with the latest roles suitable for you
Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
Visitor comments Add your comment
"Lunatic" term
This is a lunatic idea.
Posted by: Zorba Eisenhower, 02 Jun 2011 | 09:26