DAC6 is a system of mandatory reporting of cross-border tax arrangements, where these affect one or more EU member states and fall into one or more particular characteristics (hallmarks). Following the UK leaving the EU, DAC6 will no longer be applied in its entirety....
Annual Tax on Enveloped Dwellings (ATED) is an annual tax that requires limited companies owning UK residential properties with a value of more than £500,000 to complete an ATED return. You must complete an ATED return if your property: Is located in the UK Is a...
Chancellor Rishi Sunak Announces Budget for 3 March 2021 The Budget is an annual announcement from the Chancellor of the Exchequer about the Government’s plans for spending and taxation for the upcoming tax year. Next year’s Budget will outline plans for the 2021/22...
The government has announced a cap on the amount of payable tax credit that a company can claim for Research and Development (R&D). The cap will be £20,000 per period plus 300% of the PAYE and NIC payable for the period. This will take effect for periods starting...
HM Treasury has announced that the Annual Investment Allowance (AIA) will remain at £1 million until 1 January 2022. The AIA allows businesses to claim same-year tax relief for capital investments in plant and machinery assets and was due to revert to £200,000 on 1...
The Chancellor Rishi Sunak has announced a new Job Support Scheme to top up the wages of workers on reduced hours along with other emergency measures to assist businesses. We have provided a summary of the announcements. Job Support Scheme The new Job Support...
