02/15/2023
The BVI has requested a supplementary review to more accurately reflect the current legislative status with a view to having the BVI removed from the list as soon as possible.
02/15/2023
This was not included in the final legislation in the 2022 Finance Act, although HMRC said that the government is committed to further consideration of this third trigger and could add it to the legislation later.
02/14/2023
Tenants and buyers will usually also ask to see evidence of the landowner's OTT, if they are going to be expected to pay VAT on their consideration given for the lease or purchase of the property.
02/08/2023
Qualifying property companies can elect for REIT status.
02/07/2023
They are one of HMRC’s tools for obtaining information about a person’s tax affairs.
02/02/2023
The reality is that the British Virgin Islands has a robust anti-money-laundering and anti- terrorist-financing regime through the enactment of the Proceeds of Criminal Conduct Act 1997
02/01/2023
The rate differential between DPT and corporation tax means that affected companies will often seek to restructure their operations to pay more corporation tax, rather than paying DPT.
01/25/2023
The new rules have created significant cost and compliance challenges for businesses that rely heavily on a flexible workforce.
01/17/2023
The ruling was a success for the Mishcon de Reya Tax Disputes team and is significant in setting out the CJEU's position on the VAT implications for the supply of vouchers from a taxable person to its staff.
01/13/2023
From February 2023, HMRC will only issue an automated acknowledgement of receipt of a notification of an option to tax sent by email.
01/12/2023
The changes affect Luxembourg tax transparent entities operating in Luxembourg with foreign shareholders where those shareholders hold at least 50% of voting rights or capital in the Luxembourg entity or hold entitlements to at least 50% of its profits.
01/11/2023
It does not look at capital losses, which are subject to different rules.
01/06/2023
Even though several important questions remain unanswered, the Notice provides welcome guidance on many critical issues as taxpayers evaluate the impact of the CAMT on their financial reporting and estimated tax payments for the first quarter of 2023.
01/03/2023
Under the new regime, if a person fails to make a VAT return on time, that person is liable to one late submission penalty point for the relevant group of returns.
12/15/2022
Corporate Tax 2023 Publication
12/15/2022
This decision upheld part of an earlier Upper Tribunal (UT) decision, which also concluded that the expenses were expenses of management, but overturned the UT’s conclusion that the expenses were not of a capital nature.
12/15/2022
Capital gains resulting from the disposal of companies or other entities, wherever they are located, which hold Italian property may become taxable in Italy.
12/14/2022
This will include UAE companies that are incorporated or managed and controlled in the UAE, as well as some entities in free zones.
12/06/2022
The changes were ratified by the Council of State last month and will take effect from 1 January 2023 until 31 December 2023.
12/05/2022
HMRC is not required to make an informal request prior to issuing a Schedule 36 notice, so in some circumstances, HMRC may consider it more appropriate to simply issue a Schedule 36 notice straight away.