Weekly tax brief | 10 May 2022

In this edition of RSM’s weekly round-up of the most important tax news, we cover the latest developments. Please feel free to share this update with any of your colleagues and invite them to sign up to our regular briefings here.

New data highlights Employee Ownership boom
Martin Cooper and Fiona Bell
Data obtained by RSM UK from a Freedom of Information request shows there has been a dramatic increase in the number of companies making applications to HMRC to become employee-owned.

Boost for Treasury with record breaking CGT revenues
Chris Etherington
Recent statistics from HMRC show that it has been a record-breaking year for Capital Gains Tax receipts, with the amount of tax collected increasing by over 380 per cent in eight years. We analyse what is driving these staggering growth figures.

Do you want a building named after you? Think about the tax consequences
Sarah Saunders
Up until recently, HMRC’s guidance on the taxing of charitable donations was ambiguous, leading to confusion on the rules regarding naming buildings after donors as a benefit. Following clarification from HMRC this week, we consider the tax consequences for substantial charitable donations.

Could there be an exodus from private education in the UK?
Stephanie Court
Current affairs and record-breaking inflation mean families are facing huge cost increases if they want to access the UK’s renowned education system. Of course, the tax system also plays its part.

Queen’s Speech – another missed opportunity to give employers clarity on employment status 
Carolyn Brown and Susan Ball
It’s official, with no Employment Bill in the Queen’s Speech, the raft of planned employment legal regulatory changes, which has been accumulating for some years, remains on hold. Is this another missed opportunity to give employers the certainty they crave?


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