Weekly tax brief - 3 May 2017

In this edition of RSM’s weekly round-up of the most important tax news, we cover the latest developments.
Corporation tax - do US changes end UK’s race to the bottom?

03 May 2017

The UK tax policy of offering the lowest corporation tax rate in the G20, with a rate of 17 per cent from 2020, may be unsustainable once the proposed US tax changes are in force. We consider the issues.

Brexit may force companies to set up EU based distribution operations

03 May 2017

Now that Article 50 has been triggered, UK businesses that trade extensively with EU and non-EU parties are beginning to form contingency plans to mitigate the effects of Brexit. Some UK importers worried about increased costs and administration may wish to consider establishing an EU-based distribution function to allow continuity of benefits currently in place within the EU.

Who really bears the burden of tax?

03 May 2017

A recent House of Commons Briefing Paper on Stamp duty land tax (SDLT) on residential property includes some interesting statistics, prompting us to consider the question – who really bears the burden of tax?

What’s the difference between a higher rate taxpayer in Scotland and the rest of the UK?

03 May 2017

In Scotland you pay income tax at 40 per cent when your earnings reach £43,000 while you continue to pay income tax at 20 per cent in the rest of the UK until your earnings reach £45,000. So how does this affect taxes that are not devolved to the Scottish Government?