Hints of things to come, by Sophie Dworetzsky (Withers).
In a Budget that had little to say specifically about owner managed businesses, the most striking changes were to entrepreneurs’ relief, writes David Whiscombe (BKL Tax).
Two changes particularly catch the eye, one welcome and one not so, writes Mike Lane (Slaughter and May).
The chancellor of the exchequer, George Osborne, delivered his sixth and what he will certainly hope is not his final Budget on Wednesday 18 March 2015.
However many numbers feature in the chancellor’s Red Book, the one that really counts is 50 – the number of days between the Budget
The Financial Times (15 March) reports that the Obama administration’s clampdown on tax inversions by US multinationals has ‘had the perverse effect of prompting a sharp increase in foreign takeovers of American groups’.
The Welsh government has established a Treasury team in order to progress the legislation and administrative arrangements for the new devolved taxes and wider financial powers, and to ensure a smooth transition towards April 2018.
The following regulations also take effect from 1 April 2015:
The first HMRC tax manual appeared on gov.uk this week, on VAT and public bodies.
The Public Accounts Committee will hear from senior officials from HMRC on Monday 23 March 2015 at 3:15pm on the subject of HSBC and the recent allegations of tax avoidance and evasion, as they did not have time to question HMRC after HSBC’s appearance before the committee last week.