Corporation Tax Act 2009 section 40B

Professionals in practice: incidental income from an office or employment

Section 40B allows certain small payments received by a partner in a professional firm for holding an office or employment to be treated as a trading receipt of the firm rather than as the individual's employment income, provided specific conditions are met.

Access full legislation.And much more.

By becoming a member, your team gets full access to Tax World research tools and source-backed tax resources.