HMRC has updated its draft guidance on how the Northern Ireland corporation tax legislation will operate once the Northern Ireland rate has been set.
HMRC has updated ‘Spotlight 32’ in the series on tax avoidance schemes it is actively challenging, following the Upper Tribunal decision in Christianuyi Ltd and others [2018] UKUT 10 (TCC) involving managed service companies.
The Venture Capital Trust (Exchange of Shares and Securities) (Amendment) Regulations, SI 2018/109, specify conditions in which VCTs can exchange shares or securities for new shares or securities in the course of company reconstructions without losing approved status, provided the new non-qualify
The Social Security (Contributions) (Amendment) Regulations, SI 2018/120, amend the NICs treatment of certain types of payment to align with income tax changes. These changes affect:
HMRC has published guidance about how the deemed domicile changes in Finance (No 2) Act 2017 and removal of the remittance basis from 6 April 2017 will affect trust protections in the settlements legislation, transfer of assets abroad legislation and CGT legislation.
The Scottish government has updated its draft Budget proposals, lowering the income tax higher rate threshold to £43,430 (announced originally at £44,273). Earnings above this figure will attract income tax at 41% in Scotland from 6 April 2018.
HMRC is consulting until 5 March 2018 on the draft Qualifying Care Relief (Specified Social Care Schemes) (Amendment) Order 2018, which extends qualifying care relief to payments made by individuals who self-fund care they receive through shared lives schemes.
HMRC has published a summary of responses to its consultation on legislating ESC A37 (treating directors’ fees as trading income); EIM3002 (treating professional practitioners’ incidental employment income as trading income); EIM01120 (exempting financial loss allowance paid to employees by publi
HMRC has published the following:
Supplementary charge on profits from oil fields