Edward Reed and Georgina Walshe (Macfarlanes) provide this month’s review of private client developments that matter.
The reaction from most private client practitioners to the Budget will be one of relief. Although we know that tax rises primarily to corporation tax are due in the medium term there were no real surprises and it was pleasing to see that the chancellor has heeded the many concerns voiced about the feasibility of a UK wealth tax making no mention of it on 3 March.
Response to concerns over additional HMRC powers
Tackling avoidance has been a top priority for HMRC for some time. Measures included in the Finance Bill 2021 are intended to give HMRC additional powers to tackle avoidance with a particular focus on combatting disguised remuneration schemes.
In response to the earlier draft measures the House of Lords Economic Affairs Committee undertook...
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Edward Reed and Georgina Walshe (Macfarlanes) provide this month’s review of private client developments that matter.
The reaction from most private client practitioners to the Budget will be one of relief. Although we know that tax rises primarily to corporation tax are due in the medium term there were no real surprises and it was pleasing to see that the chancellor has heeded the many concerns voiced about the feasibility of a UK wealth tax making no mention of it on 3 March.
Response to concerns over additional HMRC powers
Tackling avoidance has been a top priority for HMRC for some time. Measures included in the Finance Bill 2021 are intended to give HMRC additional powers to tackle avoidance with a particular focus on combatting disguised remuneration schemes.
In response to the earlier draft measures the House of Lords Economic Affairs Committee undertook...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
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