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
Disguised remuneration: clamp down on EBTs and EFRBS
The Government released draft legislation on 9 December 2010 under the banner of "disguised remuneration". The legislation is aimed at removing tax advantages from the use of employee benefit trusts (EBTs) and Employer Funded Unapproved Retirement Benefit Schemes (EFURBS). The new rules apply from 6 April 2011 with anti-forestalling provisions taxing events taking place on or after 9 December 2010.
Double Tax Treaty Passport – New procedure regarding UK tax withholding on interest
Mazars can help you gain the benefits of this initiative launched by HM Revenue & Customs. Doing so should reduce administrative costs for both lending and borrowing companies. It's relevant where loans are made to UK corporate borrowers by any company resident in a country with which the UK has a double tax treaty.
Changes to employer supported childcare from April 2011
HM Revenue & Customs (HMRC) has issued further guidance notes aimed at employers and employees on previously announced changes to childcare voucher schemes and directly contracted childcare which take effect from April 2011. The changes will restrict the tax and National Insurance (NI) exemptions available to new entrants to these schemes from 6 April 2011.
A Swift Clarification is Needed
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.
Property tax - Tough times for landlords
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.
Withdrawal of higher rate tax relief for childcare provision
Following the December 2009 announcement regarding the future restriction of tax relief on the provision of childcare and childcare vouchers, on 19 February 2010HM Revenue and Customs published a Technical Note on the proposals.
Land remediation relief (LRR) – can you claim it?
If your company purchases contaminated or derelict land you may be eligible for enhanced tax relief or a tax repayment.