14 June 2019
The Government has introduced an accelerated quarterly instalment payment regime, for accounting periods commencing on or after 1 April 2019, for ‘very large companies’. The new regime requires very large companies (companies with taxable profits exceeding £20m) to pay their corporation tax instalments earlier, with the first payment typically due two and a half months after the start of the accounting period and the final payment due in the final month of the period.
24 May 2019
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?
24 April 2019
The Financial Conduct Authority (FCA) announced in 2017 that the London inter-bank offered rate (LIBOR) would be phased out by the end of 2021. Declining volumes of the inter-bank lending transactions that underpin LIBOR resulted in what the FCA perceived as an increased reliance on the interpretation of non-lending data when calculating LIBOR.
16 February 2019
The Government consulted on the reform of the corporate intangibles tax regime in Spring 2018, with the aim of simplifying it and making it more competitive. We are now starting to see the outcome of that process and this article considers two of the key developments to date.Read more
16 February 2019
HMRC believes some multi-national enterprises have cross border arrangements in place which are not consistent with the OECD’s transfer pricing guidelines, that result in the diversion of profits away from the UK such that profits are taxed at lower rates or not at all. These types of arrangements are targeted by transfer pricing rules, together with the diverted profits tax (DPT) legislation, effective from 1 April 2015.Read more
19 January 2019
The recent Budget introduced some significant proposals in relation to the treatment of structures and buildings for tax purposes , with the introduction of a new capital allowances regime – the structures and buildings allowance.Read more
11 January 2019
HMRC believes some multi-national enterprises have cross border arrangements in place which are not consistent with the Organisation for Economic Co-operation and Development’s (OECD) transfer pricing guidelines, that result in the diversion of profits away from the UK such that profits are taxed at lower rates or not at all. These types of arrangements are targeted by the diverted profits tax (DPT) legislation, effective from 1 April 2015.
03 December 2018
The new digital services tax (DST) will add compliance duties on the taxpayer, and there is a substantial risk that it will introduce more complexity to the UK tax regime. Discover how businesses may face uncertainty as they struggle to define if their activities fall within the scope of DST.
19 October 2018
The tax treatment of intra-group interest and royalties payments between UK and EU companies may be impacted by the UK leaving the EU.Read more
14 September 2018
HMRC recently published its transfer pricing and diverted profits tax (DPT) statistics for 2017/18. The statistics may provide insight into changes in taxpayer behaviour in the area of transfer pricing.