HMRC has invited comments on proposed changes to the tax rules for unauthorised unit trusts and their investors. The stated aim is to simplify the rules and reduce administrative burdens while removing avoidance opportunities.
The Income Tax (Limits for Enterprise Management Incentives) Order, SI 2012/1360, increases the maximum total value of shares in respect of which qualifying Enterprise Management Incentives share options may be granted to an
The Finance Act 2004, Section 180(5) (Modification) Regulations, SI 2012/1258, prevent pension schemes established under Pensions Act 2008 s 67 from becoming liable to income tax charges solely by reason of buying shares in sp
Chris Bates and Judy Harrison review the decision of the First-tier Tribunal in Eclipse 35 in which it was held that a film leasing partnership was not trading.
Generally, no tax is due on the compensation element of payments received due to mis-sold payment protection insurance, HMRC said in a guidance note. However, the additional interest is taxable.
HMRC published the first edition of its Employment-Related Shares & Securities Bulletin on developments relating to employment-related securities including government-sponsored, tax-advantaged employee share schemes.
Revenue & Customs Brief 14/12 sets out the extent to which HMRC will continue to regard the holder of a depository receipt as having beneficial ownership of the underlying shares, following the First-tier Tribunal decision in the Stamp Duty Reserve Tax case of HSBC Holdings PLC a
The Pension Schemes (Categories of Country and Requirements for Overseas Pension Schemes and Recognised Overseas Pension Schemes) (Amendment) Regulations, SI 2012/1221, stop certain types of pension schemes established in Guer
Anne Powell explains the background to the changes and their impact.