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There is a common misconception that the payment of fees to non-executive directors can be made without having to account for tax and National Insurance (NI) by way of the PAYE system. Unfortunately, this is not usually the case. This article covers some of the common errors made when making payments to non-executive directors.
The Upper Tribunal has disallowed some of M&S group relief claims from its German and Belgian subsidiaries by refusing to extend statutory time limits. However, it’s not all bad news.
A recent tax case involving an individual’s double tax relief claim could have significant implications for UK multinational groups with a US limited liability company (LLC) in their structure.
Top of George Osborne’s agenda is to cut the UK’s eye-watering budget deficit. On the 22nd June it is certain that the new government will announce tax changes. And it’s almost certain that most of the changes will be to increase tax. So, what could these changes be and how could they affect you?
Our Employment Tax Services team has been awarded the 'Best Tax Team in a Large Firm' at this year's LexisNexis Taxation Awards.
The Conservative-Liberal Democrat coalition has now issued a final agreement setting out its plans. As far as tax is concerned, there is one further surprise on non-doms but no further news on the earlier surprise announcement on CGT.
This story continues to attract massive attention and concern from clients. Little further detail emerged over the weekend on either the timing or the extent of the protection planned for business assets.
Both tenants and landlords are facing unplanned costs in their businesses. Trading companies that are tenants may have to make a penalty payment to exit a lease early when the landlord is unlikely to find anyone willing to occupy the premises at similar rental levels. On the other hand, to attract tenants to a vacant property a landlord will have to offer incentives to prospective tenants.
The end of the tax year has always been seen as a good time to look at your financial affairs. Opportunities need to be taken now or some will be lost forever. Action now may give you cash flow advantages. Announced tax changes mean that this year, more so than in recent years, you may have the opportunity to arrange your affairs to improve your tax position for the next year.
Further evidence of the tough line that tax authorities are taking in relation to transfer pricing was revealed today with AstraZeneca announcing that it has paid £505m to settle its long running UK tax dispute.