Weekly Tax Brief - 1 December 2015

In this edition of RSM’s weekly round-up of the most important tax news, we cover the latest developments

When is a tax not a tax?

01 December 2015

While the design of the UK tax system should reflect the needs of society, increasingly the more ‘traditional’ taxes are being joined by the new pretenders – the carrier bag ‘tax’ and the sugar ‘tax’ to name but two. But is it really helpful to lump all of these together and what are the implications for HMRC?

Tax breaks to address climate change need urgent reform

01 December 2015

Amber Rudd, the energy secretary, has made it clear that the market, not the generosity of the public purse, should be the main driver to address climate change. But if private businesses are really expected to step in, then the Enhanced Capital Allowances (ECA) scheme - a tax break designed to promote capital expenditure with green credentials – needs an urgent review.

With subsidies being cut, can tax breaks help the renewables sector?

01 December 2015

With subsidies being cut and a number of valuable tax reliefs either gone or at risk, what tax breaks remain for the renewable energy sector?

New CGT rules to place enormous burdens on taxpayers

01 December 2015

In last month’s Autumn Statement we heard about the Chancellors plans to advance the reporting and payment dates of capital gains tax (CGT) on the sale of residential property under new legislation to have effect from April 2019.

New offshore disclosure facility to be ‘tougher’ than Liechtenstein

01 December 2015

With the registration for the Liechtenstein Disclosure Facility closing on 31 December, a new ‘tougher’ offshore disclosure facility will take its place, giving tax evaders a ‘last chance’ opportunity to come clean.

Will Stamp Duty changes force property investors north of the border?

01 December 2015

Last week’s Autumn Statement brought a further shock for buy-to-let landlords with the introduction of a 3per cent additional Stamp Duty Land Tax (SDLT) charge on residential purchases.