Impact:These changes significantly increase the tax cost of asset disposals. For example, an individual selling a business worth £1 million could face an additional £80,000 in tax compared to current rates. The reduction in the Investors’ Relief lifetime limit particularly affects serial in...
Next warns of ‘anaemic’ growth after UK Budget tax increases Retailer says measures will cost it £67mn in current financial year and warns of potentially chilling effect on economy Save January 3 2025 Income tax Online traders warned to check tax return status Deadline looms as Airbnb...
Retailer says measures will cost it £67mn in current financial year and warns of potentially chilling effect on economy January 6 2025 UK business UK businesses plan price increases as Budget drives up costs Tax and wage rises have caused confidence to ‘slump’, warns British Chambers of Com...
Looking ahead to the upcoming budget in October, Reeves reassured party members that it will align with the new government's manifesto commitments. These include no increases in income tax, national insurance, or value-added tax, capping corporation tax at its current level for the duration of t...
Draught duty –The cost of a pint of beer is expected to “fall by 1p” as draught duty is cut by 1.7%. VAT on private school fees –To be introduced in January 2025. Stamp Duty Land Tax (SDLT) –The surcharge on second homes and buy-to-let properties will rise from 3% to 5%....
BRITAIN SIGNED a ground-breaking treaty with the US and two other countries yesterday that will set up an international taskforce to crack down on tax avoidance schemes that currently cost Western governments billions of pounds a year.Thornton, Philip...
Our paper contributes to the literature as follows. First, we provide a comprehensive examination of the impact of the “worldwide approach” as a new anti-tax avoidance measure. While many countries have adopted the stand-alone rules that consider the leverage of each subsidiary of MNC separatel...
Virgin argued that the lower overall cost of the annual contract in (a) was effectively a prompt payment discount compared to the monthly contract in (b) such that the consideration for VAT purposes in respect of the monthly payments should be reduced to £10. Unsurprisingly, on the basis ...
The UK tax authorities (HMRC) now considers that family investment companies (FICs) are not devices associated with tax avoidance. So, might one be suitable for…
This will cost UK businesses time and money. The free movement of services will end: UK service providers will no longer benefit from the country-of-origin principle. They will have to comply with the – varying – rules of each Member State, or relocate to the EU if they want ...