Mazars tax news covers everything tax related in the UK from, VAT to the latest HMRC rulings.
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:
Let's Talk Tax
Unlimited tax reliefs to be capped next year
From next income tax year (the tax year 2013/14), as has been well publicised, the government have proposed that otherwise uncapped reliefs against taxable income will be restricted to £50,000 or if greater 25% of income, per annum.
Company Dissolutions and ESC C16
Significant changes affecting company dissolutions are expected to come into effect from 1 March 2012. Many individual shareholders will pay less tax if the company is dissolved under the current concessionary treatment in ESC C16.
Monthly Tax Idea – December 2011
Refurbishing property investment funds
The two special tax regimes to promote commercial and residential property portfolio investment funds in the UK are being further amended to make them more competitive.
Companies in line for 10% tax on patents profits
...if they can handle the tax complexity.
Draft legislation to implement the proposed “patent box” has been published. From April 2013 companies with exclusive rights to patents will pay tax at an effective rate of 10% on some of their profits.
Draft legislation to implement the proposed “patent box” has been published. From April 2013 companies with exclusive rights to patents will pay tax at an effective rate of 10% on some of their profits.
Son of EIS?
SEIS (not Son of EIS but Seed Enterprise Investment Scheme) is one of the new measures trailed in the Chancellor’s Autumn Statement with more detail in today’s draft Finance Bill 2012.
Land Remediation Relief Survives the Chop
The Office of Tax Simplification had identified LRR as one of a number of tax reliefs to be abolished in the interests of simplicity. Fortunately, this relief has won a reprieve.