169 posts categorised "Tax"

23 February 2015

What's next for Nexus?

By Angela Browning I attended a Patent Box working group meeting with HMT/HMRC last week to discuss the initial design aspects of the modified Nexus. The main focus of the meeting was HMT asking questions of business/advisors to better understand what could potentially work in terms of the new modified...

20 February 2015

Tartan tax is speeding down the track....are you ready to get on board?

Providing its response to the further devolved powers proposed by the Smith Commission, the UK Government published its draft legislation three days ahead of the Burns Night deadline. As Scotland continues on its devolution journey post-referendum, what do we now know and what remains uncertain? We know that the draft...

13 February 2015

Keep watching as BEPS actions develop

Key issues and deadlines Business could soon feel the effects of international efforts to protect tax revenues through the project on Base Erosion and Profit Shifting. The UK could be one of the first territories to address BEPS recommendations and new proposals are on the way. In September the G20...

Two students scoop £10k each, in PwC’s student competition for best ideas on UK tax reform

A tax system that empowers regional cities and encourages businesses to invest in people will boost employment and drive the UK economy – according to the winning essays of a major student tax competition. The two winning students, Richard Cha and Jamie Parker, both from the University of Cambridge, each...

27 January 2015

Webcast: Your Board Directors - A seamless process for remuneration disclosures and tax reporting

This is the on demand version of the webcast we held on 12 January talking about the challenges clients face a year on after the introduction of the new remuneration reporting rules, an insight into the key risk areas that HMRC are looking at and how our clients are dealing...

18 January 2015

Short Term Business Visitor audit: Is this a sign of things to come?

By Kavita Chana Companies are facing an ever increasing scrutiny from HM Revenue & Customs (HMRC) when it comes to the auditing of their expatriate tax and social security compliance. Aside from the expatriate angle of the Know Your Client (KYC) meeting invitations, we are now starting to see additional...

06 January 2015

Solicitors latest to be targeted in HMRC campaign on voluntary tax disclosure

Solicitors are being given the chance by HM Revenue & Customs (HMRC) to bring their tax affairs up to date or face tougher penalties and the potential for a detailed tax investigation, as part of a new tax campaign. The Solicitors' Tax Campaign is the latest voluntary disclosure opportunity giving...

23 December 2014

Rethinking the regions

By Ruby Parmar When you live or work in London it’s sometimes easy to imagine the capital is the be-all-and-end-all of the UK economy, but I want to challenge that and make the economic case for the regions. There are some entrenched ideas that start way before people enter the...

19 December 2014

Clock is ticking for students entering £20k PwC tax reform competition

Deadline for the best idea on UK tax reform is 5 January 2015 Midlands students are being urged to get their thinking caps on now if they are to be in with the chance of scooping a £20,000 prize from PwC for the best suggestion on how the UK tax...

10 December 2014

Draft Finance Bill 2015: Time to act on country by country reporting

The draft finance bill announced today means multinationals need to start reconsidering their approach to transfer pricing (TP) documentation.

09 December 2014

EVENT: Introduction to VAT for the non-specialist

Date: Tuesday 3 February 2015 Time: 09:30 - 16:30 Location: PwC, Cornwall Court, 19 Cornwall Street, Birmingham, B3 2DT The course is entitled 'Introduction to VAT for the non-specialist' and is aimed at tax managers with some responsibility for VAT, or finance staff with responsibility for preparing or reviewing VAT...

08 December 2014

UK Government confident about proposed new IP regime

By Angela Browning On 2 December 2014 HM Treasury released a Written Ministerial Statement confirming the earlier UK:Germany joint proposal was broadly welcomed by OECD members. HM Treasury have also provided a summary of frequently asked questions that address some of the points of uncertainty. Key highlights include: there is...

03 December 2014

Autumn Statement 2014: Jonathan Haigh comments on impact of stamp duty changes

Residential impact Commenting on the overhaul of the stamp duty rates in the Chancellor's Autumn Statement, Jonathan Haigh, real estate expert at PwC in the Midlands, said: “People buying an average home will have more money to spend if they complete on their purchase tomorrow. On a £300,000 house- the...

Autumn Statement 2014: Karl Harriman comments on changes to personal tax and anti-avoidance measures

Personal tax changes Karl Harriman, tax partner at PwC in the Midlands, said: "The Chancellor continued his theme of raising the income tax personal allowance above the rate of inflation, with a further increase announced to £10,600. This rise is almost 5% above the rate of inflation, and means that...

Autumn Statement 2014: Chris Romans comments on measures for small businesses and entrepreneurs

In response to the Chancellor’s announcements on support for small and medium sized businesses, Chris Romans, tax partner and head of private business at PwC in the Midlands, commented: "Small and medium businesses, the majority of which are outside London, might be excused for feeling like the Cinderella part of...

Autumn Statement 2014: Angela Browning comments on the UK R&D implications

Commenting on the implications for UK research and development(R&D) in the Chancellor's Autumn Statement, Angela Browning, who leads PwC's Tax innovation incentives group in the Midlands, specialising in research and development, said: "We welcome changes to increase the R&D incentives for both large companies and SMEs with the R&D Expenditure...

01 December 2014

Autumn Statement 2014 predictions: Corporate

Much is likely to be said on tackling tax avoidance, with the Chancellor positioning the UK at the forefront of the international tax reforms. He’s likely to launch a consultation to implement the OECD’s proposals on hybrid mismatches - where the difference between the tax rules between two countries can...

28 November 2014

Autumn Statement 2014 predictions: Property

We are awaiting news on whether people with more than one home will still be able to nominate which property should qualify for principal private residence (PPR) relief. The relief exempts the main residence from Capital Gains Tax when it’s sold. This is part of a wider consultation about ensuring...

26 November 2014

Total Tax Contribution of Britain’s Biggest Businesses Hits Record High

£80bn contribution to exchequer this year, up £2bn on 2013 Marginal increase in taxes borne, despite fall in corporation tax rate While less tax generated per employee, increase in total employment tax The overall tax contribution of the UK’s largest companies in 2014 is the highest level ever recorded. Taxes...

21 November 2014

UK slips two places down league table of effective tax systems

The UK cannot afford to stand still on tax competitiveness, the latest PwC, World Bank and IFC Paying Taxes study shows. After two years of ascent, the UK has dropped two places to 16th on the annual benchmark of business tax systems, which measures the tax costs and compliance burden...