198 posts categorised "Tax"

04 August 2016

Business Rates – Changes for 2017 and beyond

By Phil Vernon From April 2017 1.94m non-residential properties will be revalued for business rates for the first time in seven years. New Rateable Values to be allocated to all commercial properties in England and Wales. Business rates are property-based tax, collected by Local Councils to fund local services. They...

20 July 2016

Webcast: Public Sector - implication of new rules for engaging with Personal Service Companies

Following our technology issues on 27 July, we have rearranged our webex for 3 August at 11am.   Join Caroline Jones, Emma Cody and Michael Edwards on 3 August at 11am when they will discuss the proposed changes being introduced for the Public Sector and the practical implications of those...

20 January 2016

How will the new patent box regime impact innovation?

By Angela Browning HMRC released draft legislation on 9 December 2015, setting out how patent box will be modified going forward. The positive news is that this broadly follows the structure and content trailed, so there are relatively few surprises for those of you already familiar with Nexus. It is...

13 January 2016

The dust has settled on Autumn Statement announcements, so what does it all mean?

By William Dowsett What with Christmas, New Year and already dealing with your internal guilt of breaking your New Years' resolutions, the Autumn Statement probably feels like a long time ago. The Autumn Statement was combined with the Chancellor delivering the five year Comprehensive Spending Review (I'm pretty sure I...

29 December 2015

4-dimensional chess on a constantly moving board - welcome to tax planning for the family business

By Richard Farnsworth So you are a successful family business. Maybe first generation maybe many generations. Your core wealth is derived from the family company but over time you have diversified that wealth into other areas such as a nice family home, maybe some cars, investment property, holiday home abroad...

17 November 2015

EVENT: Pay, Performance and Risk Seminar

Date: Thursday 10 December Venue: PwC East Midlands, Donington Court, Pegasus Business Park, Castle Donington, DE74 2UZ Time: 8:15am – 10:00am The Autumn Statement and ongoing Office of Tax Simplification consultations are likely to result in further announcements for the world of Pay, Performance and Risk. Many businesses are expressing...

15 October 2015

Everything you need to know about Patent Box (almost) - Part 2

By Angela Browning and Adrian Gregory It’s been quite a week for tax professionals with plenty of ‘light’ reading courtesy of the OECD. I consider myself fortunate that Chapter 5 (harmful tax practices) was one of the shorter papers at just 80 pages. So what can we expect for patent...

01 October 2015

Remuneration regulations for Building Societies - are you ready?

The background Building Societies continue to be subject to specific remuneration regulations that are set out in EU legislation known as Capital Requirements Directive IV (CRD IV). These rules govern not only what is paid to certain individuals in the organisations, but how it is paid. These remuneration rules will...

25 September 2015

Everything you need to know about Patent Box (almost)

Hopefully you’re all back from holiday rested and recharged – which is good news, because if your company is affected by the BEPS actions affecting IP, and by patent box in particular, there’s plenty to do. The regime will undergo significant change over the coming months and some critical deadlines...

23 September 2015

RECORDED WEBCAST: Prepare your tax function for tomorrow’s tax reporting and planning landscape

Evolving trends are changing the way tax functions are operating – both day-to-day and with long-term strategic planning. The Tax Function of the Future will look surprisingly different from today's...are you prepared? In our second piece, “Global tax transparency and risk management - The new landscape prompts changes to operations,...

08 July 2015

Budget 2015: PwC comments on plans to restrict tax relief for pension contributions

Steve Blackmore, pensions director at PwC in the Midlands said: “This makes a complicated pensions tax system even more complicated. An ad-hoc change just disengages business leaders from the role of pensions in their organisations. Senior employees may now not bother saving into pensions. It sends a mixed message into...

Summer Budget 2015: The wider tax debate

Following the Chancellor's Conservative Summer Budget announcement, Mary Monfries looks at what was announced in more detail and how this fits into the wider tax debate.

Budget 2015: Office of Tax Simplification gets much bigger mandate

In the Budget book, the Government has said it will establish the Office of Tax Simplification (OTS) on a permanent basis with an expanded role and capacity. The new, expanded OTS will be put on a statutory footing in Finance Bill 2016, and will advise the government on how to...

Budget 2015: PwC - £7.2bn anti-avoidance target will come more from compliance than new measures

Commenting on the raft of anti-avoidance measures announced in the Budget, Stuart Wallace, head of tax at PwC in the Midlands said: "The Government's manifesto had a much trailed target of £5bn from tackling tax avoidance. In the Budget the Chancellor increased the target to £7.2bn but the description has...

UK tax datacard 2015/16

A quick reference guide to UK tax rates and allowances for individuals, companies and other taxpayers following announcements in Budget 2015. This data was prepared on Budget day 18 March 2015. It's a brief overview for temporary reference and general guidance on matters of interest only, and doesn't constitute professional...

06 July 2015

Summer Budget 2015: Our predictions on decentralisation, housing, business rates and personal tax cuts

Emergency budgets traditionally bring tax rises, but equally we could see tax cuts that favour some, not others. Overall the Chancellor will likely be looking to raise tax and this could come from a number of sources including widening the tax base, property, pensions and anti-avoidance. But what else is...

03 July 2015

Summer Budget 2015: Our predictions - where could tax revenues come from?

The Summer Budget is the first real opportunity for the Chancellor to put his mark on the nation's finances, unconstrained by coalition negotiations. Big focuses in the Chancellor’s Summer Budget are likely to include decentralisation and regional investment, and boosting productivity by supporting innovation, skills and technology. This is the...

20 May 2015

RECORDED WEBCAST: Major changes to the VAT recovery position for employers and pension funds

HMRC has recently announced changes to the VAT recovery position for employers who pay VAT on services relating to the administration and management of a defined benefit pension scheme. These changes follow a recent Court judgment which held that VAT charged on fund management and administration services provided to an...

13 April 2015

RECORDED WEBCAST: Getting ready for Diverted Profits Tax

The UKs Diverted Profits Tax came into force on 1 April 2015. This is a new tax levied at 25% on a company's taxable 'diverted' profits in two scenarios: Entities or transactions lacking economic substance - where groups create a tax benefit by using transactions or entities that lack economic...

BEPS: OECD to publish further papers in their action plan

By the end of this month the OECD is proposing to publish at least five further papers under its Base Erosion and Profit Shifting (BEPS) action plan. These will be a combination of revised drafts of papers you’ve already seen in part and entirely new papers. As well as providing...