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Vinny McCullagh, our Indirect Tax Partner provides regular updates on current hot topics in the world of VAT from our expert team. We focus on useful and commercial indirect tax issues, with content driven by current developments.
For anyone focussing on tax changes, the majority of the 2015 Autumn Statement amounted to a long preamble in the form of the now customary summary of statistics on growth, both past and expected. Significantly, the Chancellor was able to avoid making any cuts to tax credits, which will be welcomed by many. However, what was less clear is how this and other measures mentioned will be paid for.
There is widespread speculation about the possibility of the Chancellor making further changes (restrictions) to entrepreneurs’ relief (ER) when he makes his Autumn Statement next Wednesday, 25 November.
The Mazars European/US Tax Desk attended the 6th Praxity North American International Tax Conference on 10 November in Austin, Texas. We summarise the event, attended by over 200 Praxity members and clients.
The case of taxpayer who, due to force of circumstances, found himself moving from one home to another highlights the relevance of intention when considering whether the CGT private residence relief applies.
HMRC have announced that the ending of “concessional” treatment of unremitted funds used as loan collateral will now only apply to loans brought into or used in the UK on or after 4 August 2014.
The Treasury consultation document, Reforms to the taxation of non-domiciles came and went briefly on 22 September and has now reappeared. Apart from changes of dates, including the deadline for responses, nothing has changed, not even the typos
HMRC consultation on the simplification of tax and NIC treatment of termination payments: our response
In July, HMRC published a consultation paper outlining proposed changes to the tax and National Insurance Contributions (NIC) treatment of termination payments.