Repayment of corporation tax based on expected future losses
In May the Government announced the extension of its Job Retention Scheme until at least mid-October 2020. In so doing, more than one million employers will continue to receive direct support from the Treasury which will meet 80% of furloughed employees’ salaries Read More
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Where angels fear to tread – HM Treasury Future Fund for high-growth companies
The devil is in the detail
The Future Fund, which is to launch in May, will provide loans of between £125,000 and £5 million, subject to matched funding from private investors. Read More
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COVID-19 and Property Taxation
In previous newsletters we have discussed the implications of the unfolding COVID-19 crisis for personal tax residence (link here) and business tax (link here). Read More
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COVID-19 and Business Tax
Restricted international mobility, plunging exchange rates and impending recession arising from the COVID-19 crisis throw up significant tax implications. Read More
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COVID-19 and counting days for UK statutory residence tests for 2019/20 and 2020/21- HMRC’s view
The legislation in the statutory residence test allows for some days to be ignored in applying certain of the statutory residence tests where the “exceptional circumstances” condition is met. Read More
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Non-Resident Property Ownership
This tax year HMRC has introduced rules that seek to bring almost all non-resident owners of UK land within the scope of UK tax on their gains. Under the new regime, effective from 06 April 2019, where a seller (regardless of their tax residence) Read More
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Insolvent companies and the transfer of disguised remuneration liabilities to directors
In our December and January Newsletters we considered some of the main issues arising out of the Government’s changes to the “loan charge” Read More
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Has Code of Practice 9 become obsolete due to the Common Reporting Standard?
Recent figures published by HMRC show the number of settlements under the Contractual Disclosure Facility (CDF), also known as the Code of Practice 9 (COP9) procedure, READ MORE
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Loans Charge: Further issues to consider
You may have seen our recent article on the partial abolition and major changes to the disguised remuneration loans charge Read More
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Radical reforms to the 2019 loan charges makes for a happy Christmas for many
The government has announced a significant overhaul of the 2019 loan charge following a much publicised review Read More
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