Tax implications for businesses and individuals will arise from the coronavirus outbreak. The enforced travel restrictions could impact non-UK resident corporates which are centrally managed and controlled in the UK and create permanent establishment risks for non-resident employers. Foreign citizens and British expatriates who are stuck in the UK for longer than they intend may also risk becoming UK tax resident under the statutory residence test, although HMRC’s recent guidance should prove helpful. Employers may be able to reimburse homeworking expenses of their employees, although more guidance from HMRC would be helpful.
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Tax implications for businesses and individuals will arise from the coronavirus outbreak. The enforced travel restrictions could impact non-UK resident corporates which are centrally managed and controlled in the UK and create permanent establishment risks for non-resident employers. Foreign citizens and British expatriates who are stuck in the UK for longer than they intend may also risk becoming UK tax resident under the statutory residence test, although HMRC’s recent guidance should prove helpful. Employers may be able to reimburse homeworking expenses of their employees, although more guidance from HMRC would be helpful.
If you are not a subscriber, subscribe now to read this content.
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