Find monthly updates on taxation in the UK, or search through the archive of our news. For the most up to date tax news and opinions on taxation in the UK, follow our Let's Talk Tax blog:
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.
No Christmas schedule is complete without a load of dreary repeats, and that’s what we’ve got with the draft Finance Bill clauses, a repeat of the Autumn Statement with little added to it. So we’ve selected areas that justify more detailed coverage and squeezed the elves, sorry, experts for that little bit more commentary. More will follow as we carve up and digest this year's turkey to test how sage its stuffing is and pull on the consultations to see if they're crackers.
UK businesses will be pleased that some valuable reliefs have been preserved and extended, in particular R&D tax credits. Serial entrepreneurs can welcome the boost provided by the preservation of entrepreneurs’ relief when reinvesting in EIS and SITR.
SDLT saw an anomaly removed but only on residential property.
Global businesses, however, will be far more concerned with increased levels of compliance, complexity and uncertainty.
George Osborne delivers the Coalition’s final Autumn Statement in the House of Commons on 3 December. We reckon he’ll use this opportunity to remind us of the economic achievements of the Coalition, but will there be carrots promising reductions in future tax bills?
You may have seen various articles in the press concerning the UK/German joint statement which has implications for the UK Patent Box.
On 13 October 2014, HMRC issued Revenue and Customs Brief 37 on their position following the Skandia case. The brief points out that the UK’s VAT grouping rules are different from the Swedish VAT grouping rules considered by the ECJ in Skandia and consequently HMRC are going to consider what impact, if any, the Skandia decision has on the UK rules and whether any changes to legislation are required as a result.
Mazars response to HMRC on the implementation of agreements to be entered into between the UK and various overseas jurisdictions to adopt the Common Reporting Standard on financial account information (The CRS).
The referendum is now behind us but the level of Scottish autonomy looks set to increase, as evidenced by the introduction of three “tartan taxes” that were not dependent on the outcome of last week’s vote.