New corporate offences introduced: Failure to prevent the facilitation of tax evasion
The new corporate offences of 'failure to prevent the facilitation of tax evasion' under the Criminal Finances Act 2017 came into effect on 30 September 2017.
The buy-to-let tax raid
Not content with increasing the rate of SDLT by 3% on buy-to-let properties, the chancellor has announced radical changes to interest deductibility, which will make owning buy to let properties less attractive than ever before.
Tax update: EIS and VCT
The Finance (No.2) Act 2015 has now received Royal Assent. Within the Act are arguably the biggest raft of changes to the enterprise investment scheme ('EIS') and venture capital trust ('VCT') legislation since the schemes were introduced.
Asset purchases - the Chancellor shows a lack of goodwill
The Summer Budget on 8 July 2015 announced the removal of corporation tax relief for the costs of any goodwill and intangible assets on an asset purchase.
Digital Services - Changes in the place of supply for VAT purposes
From 1 January 2015, there will be a major change to the EU VAT rules which will affect businesses established in the EU and that supply digital services to end consumers located in other EU jurisdictions.
What an independent Scotland could mean for your business
The 24 March 2016 is the proposed date for independence from the parliamentary union of 1707 if Scotland votes 'Yes' in the referendum in two months' time.
The accelerated payments proposal: Further bad news for taxpayers
Controversial measures to tackle mass marketed tax avoidance schemes were set out in this yea's Finance Bill.
Budget summary 2014: tax highlights
The Chancellor delivered the Budget 2014 yesterday (19 March). The following is a summary of the main tax points of interest:
Mixed partnerships: new rules from HMRC
HMRC published draft legislation on 10 December 2013 to deal with perceived tax avoidance by partnerships.
Limited Liability Partnerships and disguised remuneration
We commented in a previous article, issued on 2 December 2012, about HM Revenue and Customs (HMRC) proposals to tighten up the rules allowing members of an LLP to be treated as self-employed.
EMI options changes: Are you prepared?
Buried in the raft of proposed legislation published by the Government last month are further details of some seemingly uninteresting and procedural changes to the way EMI options operate.
Partnerships under pressure: Part 2
This is the second of two looks at new measures being introduced by the Revenue to crack down on what it perceives as the use of partnerships for tax avoidance purposes.
Partnerships under pressure: Part 1
The Revenue has announced a number of measures - and, for the arrangements covered by this article has already implemented the measure - to crack down on what it perceives as the use of partnerships for tax avoidance purposes.
Stamp Duty Land Tax and group relief
HMRC recently clarified how it applies the anti-avoidance rule in the context of intra-group asset transfers following corporate acquisitions.
New SDLT sub-sale relief rules
In an earlier article we outlined the introduction of the new sub-sale relief rules. These have now been enacted in the Finance Act 2013.
Further developments in SDLT
We have previously reported on earlier court decisions considering certain aspects of the SDLT legislation.
Has your company done its research into R&D tax relief?
Many companies may be unaware that they are eligible to claim research and development (R&D) tax relief, and will be surprised by how much relief they could claim.
Empty property rates relief: High Court decision
We have commented in the past about actions local authorities are taking to challenge the availability of charitable rates relief in connection with various arrangements that charities have been involved with.
Seed investment scheme begins to take root - SEIS extended
The Budget 2013 contained a number of measures to extend the capital gains tax relief for re-investing gains in Seed Enterprise Investment Scheme (SEIS) shares.
Budget 2013: Tax Summary
The Chancellor presented the 2013 Budget to Parliament yesterday (20 March). The following is a summary of the main tax points of interest with the draft Finance Bill to be published on 28 March
Stamp Duty Land Tax: Finance Bill 2013 - Recent Developments
This article summarises the main changes proposed in the draft clauses of the Finance Bill 2013, with particular reference to the transfer of rights (sub-sale) rules.
Employee shareholders: the basics
A new employment status intended to encourage small and medium-sized businesses to take on staff was proposed by the Government last year. Following a short consultation the legislation incorporating the changes is now making its way through Parliament.
Budget changes: Entrepreneurs' relief and EMI options
The Finance Bill 2013 makes changes to the rules applying entrepreneurs' relief (ER) to the disposal by an employee or officer of a company, on or after 6 April 2013, of shares meeting the requirements of the enterprise management incentive (EMI) scheme.
Autumn Statement 2012: Tax summary
The Chancellor delivered the Autumn Statement 2012 on 5 December. This is a summary of the main tax points of interest, with draft legislation enacting the proposed changes scheduled to be published on 11 December.
Transfer of a business as a going concern: Change of practice by Revenue
Following the Tax Tribunal's decision in the case of Robinson Family Limited, the Revenue has decided not to appeal.
Disclosure of tax avoidance schemes: Revised guidance
The Revenue has recently published revised guidance on the disclosure of tax avoidance schemes.
Empty properties rates reliefs: further thoughts
There has been a further decision considering the effectiveness of arrangements entered into by property owners for the purposes of mitigating the effect of the rates charged on empty properties.
HMRC's latest targets: electricians, e-marketplace traders, missing tax returns, home improvements, direct selling