Tax Voice - August 2015

Welcome to this month's edition of Tax Voice, a monthly round-up of the most important tax news.

HMRC publishes 2014-15 annual report

12 August 2015

HMRC has recently published its annual report and accounts for 2014-15. So what insights does this provide into the changes and developments tax payers can expect to encounter in their future dealings with HMRC?

Dividends are still more tax-efficient

12 August 2015

As an owner-manager, you should be paying yourself a mixture of salary and dividends. Unfortunately, this will soon become more expensive in tax terms.

Corporation tax - what's the future?

12 August 2015

A funny thing happened on 8 July; the Chancellor announced that the UK’s corporation tax rate will fall to 18 per cent by 2020. What is going on?

Pension changes - what are the options?

12 August 2015

Pensions are supposedly a stable longer term savings environment to ensure individuals can have certainty of income in retirement. But another significant change to pensions announced in the Summer Budget means that action is required and other options may need to be considered urgently.

Summer Budget brings fundamental changes for non-doms

12 August 2015

Currently, non-UK domiciliaries (non-doms) can pay UK income tax and capital gains tax (CGT) on their foreign income and gains only if these are brought (‘remitted’) to the UK.

One down, 14 to go - OECD tackles transfer pricing documentation

12 August 2015

With the release of a’ country-by-country reporting implementation package’, UK companies will now start to feel the impact of the BEPS project.