Following consultation, the government is to go ahead with legislation to make clear that only the actual costs of construction and building work and certain other specified activities will qualify for BPRA, plus some associated activities up to a limit of 5% of the actual costs. The period within which works must be completed is to be set at 24 months. The legislation will also put beyond doubt that expenditure incurred on a building that has not been empty for a year does not qualify for relief.
‘False self-employment’ consultation
The government is consulting on legislation to prevent the use of employment intermediaries to avoid National Insurance contributions and income tax by presenting employment relationship falsely as self-employment. The consultation, entitled Onshore employment intermediaries: false self-employment, runs until 4 February 2014 and can be found at www.bit.ly/1aYvxVc. See also page 9.
Unauthorised unit trusts
The Unauthorised Unit Trusts (Tax) Regulations, SI 2013/2819, was made on 31 October following the end of the consultation process, setting out the new tax rules for unauthorised unit trusts and their investors. A technical note was published on 11 December on changes to the tax rules for unauthorised unit trusts and their investors.
Informa to return tax base to UK
In a statement, publishing firm Informa announced that its board will recommend that the corporate domicile of the parent company of the group should return to the UK during 2014. This is subject to shareholder approval at an EGM expected in Q2 2014. ‘We anticipate no material change in reported tax rates or taxation paid as a result of the change in domicile,’ the statement said.
Brief on reverse charge mechanism
Revenue & Customs Brief 36/13 confirms that the UK will continue to apply the reverse charge for mobile telephones, computer chips and emissions allowances at least until the end of 2018, following entry into force in August 2013 of the EU directive introducing the reverse charge mechanism.
People and firms
The merger of law firms Lawrence Graham and Wragge & Co will take effect on 1 May 2014, with partners from both firms voting in favour of the merger.
Following consultation, the government is to go ahead with legislation to make clear that only the actual costs of construction and building work and certain other specified activities will qualify for BPRA, plus some associated activities up to a limit of 5% of the actual costs. The period within which works must be completed is to be set at 24 months. The legislation will also put beyond doubt that expenditure incurred on a building that has not been empty for a year does not qualify for relief.
‘False self-employment’ consultation
The government is consulting on legislation to prevent the use of employment intermediaries to avoid National Insurance contributions and income tax by presenting employment relationship falsely as self-employment. The consultation, entitled Onshore employment intermediaries: false self-employment, runs until 4 February 2014 and can be found at www.bit.ly/1aYvxVc. See also page 9.
Unauthorised unit trusts
The Unauthorised Unit Trusts (Tax) Regulations, SI 2013/2819, was made on 31 October following the end of the consultation process, setting out the new tax rules for unauthorised unit trusts and their investors. A technical note was published on 11 December on changes to the tax rules for unauthorised unit trusts and their investors.
Informa to return tax base to UK
In a statement, publishing firm Informa announced that its board will recommend that the corporate domicile of the parent company of the group should return to the UK during 2014. This is subject to shareholder approval at an EGM expected in Q2 2014. ‘We anticipate no material change in reported tax rates or taxation paid as a result of the change in domicile,’ the statement said.
Brief on reverse charge mechanism
Revenue & Customs Brief 36/13 confirms that the UK will continue to apply the reverse charge for mobile telephones, computer chips and emissions allowances at least until the end of 2018, following entry into force in August 2013 of the EU directive introducing the reverse charge mechanism.
People and firms
The merger of law firms Lawrence Graham and Wragge & Co will take effect on 1 May 2014, with partners from both firms voting in favour of the merger.
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