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Business Blog

ATED: Property revaluation at 1 April 2017

The annual Tax on Enveloped Dwellings charge (ATED) is a tax charge on companies and certain other corporate entities that own a UK residential dwelling where the value is over £500,000.  Although certain exemptions are available (e.g. where the property is let to a 3rd party on commercial terms) these need to be claimed and where a...


Date: 26th October, 2017
Author: David Hadley

R&D changes see 22% increase in claims by SMEs

HMRC’s statistics (albeit for 2015-16) show the total number of claims for R&D tax credits rose to 26,255, an increase of 19% from 2014-15. However, according to HMRC, this increase was primarily driven by the number of SME claims, which totalled 21,865 in 2015-16, up from 17,875 in 2014-15.  The total number of claims under the...


Date: 25th October, 2017
Author: Cathy Corns

Inward Investment VAT

Whilst Brexit negotiations have been keeping those on both sides of the English Channel on the edge of their seats, some recent, very positive developments have led to a boost in business confidence in the UK. A sensible transition period to 2021 is looking fairly certain now. This breathing space will ease the pressure, permit more time and...


Date: 12th October, 2017
Author: Richard Collier

Outsourcing – working smarter

Whether you are considering starting a new venture in the UK or establishing a UK subsidiary of an already established group there are a myriad of commercial, operational, legal and financial issues to consider. A key decision to be made from the outset is whether or not to outsource some or all of the ‘back-office’ functions that will...


Date: 12th October, 2017
Author: Ross Lane

International employees – Short Term Business Visitors

Where a UK company is part of an international group, it will be common for group employees to visit the UK to perform duties for the UK company. Where these visits form part of a secondment arrangement, resulting in the employee becoming UK tax resident, the UK company’s obligations are likely to be clear – UK income tax and national...


Date: 12th October, 2017
Author: Mansel Turnham

Foreign Direct Investment Post Brexit

Foreign Direct Investment (FDI) has fallen since the financial crisis but at over 9% of GDP it remains a significant proportion of the UK economy. The Brexit vote brought predictions of a big drop-off in this figure with the slump expected to begin almost immediately. However, so far there has been no sign of a fall. Many overseas companies have...


Date: 12th October, 2017
Author: Andy Crook

Important VAT change to disbursements

More VAT to be charged, procedures to be changed and  possibility of HMRC retrospective assessments  Issue A recent First Tier VAT Tribunal decision (5 Sept) has created a lot of concern, particularly for firms of solicitors. A disbursement in VAT terms is often described by way of the classic example of a solicitor paying a...


Date: 29th September, 2017
Author: Mercer & Hole Media

Corporate residence

A company is subject to corporation tax on its worldwide profits if it UK tax resident. It is UK tax resident if it is incorporated in the UK or its place of central management and control is in the UK. Central management and control is, broadly, where the highest level of control of the business of the company is exercised. It is usually therefore...


Date: 4th August, 2017
Author: David Hadley

Uncertain times for winding up transactions

The current focus on preventing tax avoidance to make sure everyone pays their fair share is understandable but any legislation that is drafted on a wide-ranging basis creates uncertainty for people who should never be affected by the proposals.The new provisions on liquidation distributions is a case in point. A complication is that the...


Date: 20th July, 2017
Author: Cathy Corns

Double trouble

A recent tax case highlighted HMRC’s hard stance on tax avoidance.   A PAYE savings arrangement had been undertaken by the main holding company that involved a further two group companies trading and hence paying corporation tax.  The tribunals found that money had merely flowed through the new companies, which were ciphers or...


Date: 3rd July, 2017
Author: Cathy Corns

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