HMRC is currently consulting on the R&D tax regime for small and medium sized enterprises in response to perceived abuse of the regime by certain persons operating artificial structures involving UK companies with minimal economic substance.
It has been hard to miss the strains that UK high street retailers have been facing. Many have called for a change in the way the retail sector is taxed, to reflect the way today’s consumers shop. The latest, and perhaps most high-profile voice calling for reform, is Tesco’s chief executive Dave Lewis. So what are the available tax policy options and how would they work?
A billionaire philanthropist in the US has this week offered to pay off the student loans of graduates at Morehouse College in the US – a pledge that's set to cost him $40m. Were a like-minded UK donor considering the same, they would be well advised to consider the tax implications in advance.
HMRC has recently published a study examining the behaviour of ‘gifters’ - those who have, in the past two years, made a single gift of £1,000 or more, or multiple gifts of greater than £250 totalling more than £3,000. It is hoped that the findings will help simplify the inheritance tax legislation so that it is fit for the 21st century.
With so much innovation in the food space, from realistic meat alternatives to delivery technology solutions, there is an abundance of promise for tech investors looking to grow rapidly and at scale. When it comes to return on investment, however, investors need to be savvy with whom and where they decide to invest. Does technology, therefore, make a recipe for success or disaster?
If landlords are selling up due to complex tax changes, does this mean more first-time buyers will have a shot at getting on the property ladder?
What might a new tax, intended to reduce carbon emissions, look like? Think of it as a carbon-added tax replacing the existing Climate Change Levy paid by some businesses. It would work by taxing carbon dioxide emitted as greenhouse gases at each stage in the creation and sale of goods or services. The greater the amount of carbon, the higher the amount of tax. Reflecting carbon consumption in the price of goods and services, while incentivising the adoption of low-carbon alternatives, would be a massive step towards a low-carbon world.
The tax exemption for employer-provided sporting and recreational facilities should encourage employers to help their employees be physically active. However, employers providing such perks should take care to ensure their facilities qualify for the exemption.
HMRC has recently published a survey into the drivers of tax compliance among the wealthy. The results seem to have surprised HMRC more than professional tax advisers.