With the Workplace Pensions now up and running a number of Government departments are already looking at this as a work in progress. All UK businesses need to be aware of the need for on-going governance and due diligence, as the responsibilities ultimately lie with them. PENSIONS – AUTOMATIC ENROLMENT/AUTOMATIC ENROLMENT Synopsis: Key messages from […]
Synopsis: HMRC has been criticised by the National Audit Office for not monitoring the use of entrepreneurs’ relief which appears to have cost the public £2bn more than expected last year. The National Audit Office (NAO) has said that HMRC has done little to investigate why entrepreneurs’ relief has cost the public £2 billion more […]
TAX AVOIDANCE Synopsis: Irish Government has announced that action to close the “Double Irish” corporate tax loophole will be taken Date posted: Friday, October 17, 2014 So the ‘Double Irish’ tax avoidance/reduction strategy adopted by some ‘rich and famous’ global corporations is to close. Question: What is/was the ‘Double Irish’ tax strategy? Answer ‘Double Irish’ […]
PENSIONS – SIMPLIFIED TAX REGIME Synopsis: The periodic Pension Schemes Services Newsletter has been published which covers updates on Individual and Fixed Protection 2014 together with an update on administrative requirements. Date posted: Monday, July 07, 2014 HMRC have published their latest Pensions Newsletter (63). The newsletter covers: 1) Update in iForms – there is a project underway […]
INDEXATION ALLOWANCE AND RETAIL PRICES INDEX TABLES/RETAIL PRICES INDEX/INDEXATION ALLOWANCE TABLE Synopsis: Annual CPI inflation rose in April for the first time since last June. However, the RPI was unmoved. Date posted: Wednesday, May 21, 2014 Inflation on the CPI measure reversed its steady fall from the 2.9% recorded last June and rose 0.2% to […]
TAX AVOIDANCE Synopsis: HMRC has launched a new campaign with the aim of providing an opportunity for individuals in employment who have additional untaxed income from other sources to get up to date with their tax affairs in a simple, straightforward way. Date posted: Monday, May 12, 2014 In April, HMRC launched the ‘Second Incomes […]
TAX AVOIDANCE Synopsis: Impact of the anti-avoidance provisions to re-categorise income from “disguised employment” as employment income. Affected LLP Members seeking loans to inject sufficient capital to avoid income re-categorisation. Some LLPs reported to be considering incorporation. Date posted: Tuesday, April 22, 2014 The new rules providing for the re-categorisation of the ‘remuneration’ taken by […]
CAPITAL GAINS TAX – FUNDAMENTALS Synopsis: The Government has launched its initial consultation following the Autumn Statement announcement that CGT will be extended to apply to non UK residents who dispose of UK residential property from April 2015. The consultation will run until 20 June 2014. Date posted: Thursday, April 10, 2014 In the Autumn […]
Synopsis: The UK Government has confirmed that it will oppose clauses in the EU’s Fourth Money Laundering Directive that would force all trusts to identify their beneficiaries in publicly accessible registries. Date posted: Wednesday, April 09, 2014 Following on from our earlier bulletins, the UK Government has confirmed that it will oppose clauses in the […]
CAPITAL ALLOWANCES Synopsis: 8th April 2014 marks the end of Microsoft support for Windows XP. For many companies this will involve a large capital outlay for new computers, servers and software. With this in mind we take a look at the tax position of purchasing new computer systems. Date posted: Tuesday, November 19, 2013 As […]
