UK: Research Report on Employment Related Securities
On 17 September 2015 HMRC published on its website a research report on employment related securities. The research report is the product of a series of hour-long in-depth interviews with advisers, employee benefit consultants and
See MoreUK: Research into company investment decisions
A research report on profit distribution and investment patterns of unlisted companies was published on the HMRC website on 17 September 2015. The quantitative and qualitative research looks at the reasons for company behaviour including tax
See MoreUK: Research into motivators and incentives for voluntary disclosure
HMRC has published a report on the findings of a research project on drivers for taxpayer participation in voluntary disclosure opportunities. The project involved 38 interviews with taxpayers who had either disclosed voluntarily; been investigated
See MoreUK: HMRC research into business cycles and tax reporting
On 8 September 2015 HMRC published on its website research on understanding the impact of reporting cycles. This examined the business experience and compliance behaviour of small and medium sized enterprises (SMEs) and asked for information on the
See MoreUK: HMRC Publishes Results of Large Business Panel Survey 2014
The results of the Large Business Panel Survey for 2014 have been published on HMRC’s website. The survey of large businesses was performed in late 2014 and early 2015. The aim was to track and assess the views of businesses on the services
See MoreDTA between Bulgaria and United Kingdom approved by Bulgaria
The Income tax Treaty (DTA; 2015) between Bulgaria and United Kingdom has been approved on 10th July 2015 by the Bulgarian Council of Ministers. After it is in force and effective, this new treaty will replace the previous Income Tax Treaty
See MoreUK: HMRC issues updated guidance on accelerated payments
On 20 August 2015 the UK tax authority HMRC published on its website a fact sheet containing updated information on the requirement to make accelerated payments in connection with tax avoidance schemes. A tax avoidance scheme is defined for this
See MoreUK: Film tax credit gains EU approval
The UK’s enhanced tax relief for film production has gained EU approval under its State aid rules. This enhanced 25% film tax credit was announced in the pre-election budget in March 2015 subject to approval by the EU. A film can claim the tax
See MoreUK: taxation of dividend income of individuals
On 17 August 2015 the UK tax authority HMRC issued a fact sheet explaining the new rules for taxation of dividends received by individuals. With effect from April 2016 the current dividend tax credit is to be scrapped and a dividend allowance of
See MoreUK: Increase in tax cases going to litigation
The number of tax disputes going to litigation in the UK has hit record levels, with the number of tax cases waiting to go to a tribunal more than doubling over the last five years. The statistics for 2014 show that there were 29.566 appeals to the
See MoreUK: Capital gains tax treatment of carried interest
Legislation was included in the Summer Finance Bill 2015 published on 15 July 2015 to make technical changes to the capital gains tax treatment of carried interest. A summary of the changes was issued by the UK tax authority HMRC on 20 July
See MoreUK Summer Budget 2015 Reduces Corporate Tax Rate for Future
UK summer budget 2015 announced on 7 July 2015 has reduced corporate tax rate from the current rate of 20% to 19%, effective from 1 April 2017, and to 18% effective from 1 April 2020. The rate reductions will be included as part of Finance Bill
See MoreUK: HMRC comments on reduced VAT rate for installation of energy saving materials
On 31 July 2015 the UK tax authority HMRC published Revenue and Customs Brief 13 (2015) on the reduced rate of VAT on the installation of energy saving materials. The European Commission commenced proceedings in the European Court of Justice as in
See MoreUK: Research report on SME interaction with UK Customs
On 20 July 2015 the UK government published the results of research into the challenges faced by small and medium enterprises (SMEs) from interaction with Customs when importing from and exporting to countries outside the European Union. The
See MoreUK: Statistics on funds raised through the EIS and SEIS
The Enterprise Investment Scheme (EIS) and the Seed Enterprise Investment Scheme (SEIS) are two of the tax advantaged venture capital schemes in the UK, the other being the tax relief for investment in venture capital trusts. Owing to demand for
See MoreUK: Changes to EIS and venture capital trusts
In the UK the Enterprise Investment Scheme (EIS), the Seed Enterprise Investment Scheme (SEIS) and the venture capital trust (VCT) rules allow companies to raise capital by providing income tax relief on a percentage of the investment in shares of
See MoreUK: Consultation on the taxation of termination payments
On 24 July 2015 the UK issued a consultation document in respect of the reform of income tax and national insurance on termination payments by employers. This follows a report from the Office of Tax Simplification on ways in which the complexity of
See MoreUK ratifies DTAs with Algeria, Brazil, Bulgaria, Croatia, Senegal, and Sweden
The UK has recently released draft legislation to ratify Double Taxation Agreements (DTAs) signed with Algeria, Brazil, Bulgaria, Croatia, Senegal, and
See More