Raymond Yeung Tax Consultant * former IRD Assessor

飛鴻稅務顧問 * 前稅務局評稅主任楊輝洪

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Profits Tax - Voluntary receipts

Whether a payment is voluntary or not --- that is whether it is made with or without legal obligations --- does not affect its taxability. 

In the case CIR versus Falkirk Ice Rink Ltd. 51 TC 42, a members club used the facilities of the taxpayer in the course of its business. The club gave the taxpayer a sum to cover the additional cost of the facilities. It was held that the receipt was made to supplement the revenue of a trading company, and although voluntary, was chargeable to tax. 

If a voluntary payment is made after the cessation of a trading activity, it may be non-taxable. In the case Simpson versus John Reynolds & Co. (Insurances) Ltd. 49 TC 693, a company of insurance brokers lost an important client on a change of control of the client company which undertook to pay 5,000 pounds by annual installments of 1,000 pounds in recognition of the long period during which the taxpayer acted for the client. It was held that the payments were gifts and not an additional reward for services rendered and therefore not taxable.


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