IN BRIEF

Why a UK credit, designed to incentivise UK R&D, can effectively end up going to the US government.

Employers will be required to payroll benefits from April 2026. Here’s what they need to consider.

If I had to sum up Budget 2024 for corporates in one word it would be boring. And that is a good thing. By and large corporate tax directors like predictability and stability. Not the pantomime of recent years of corporation tax is...

As flagged up in last Novembers Autumn Statement, the Chancellor announced that the government intends to extend full expensing of plant or machinery expenditure to leased assets when fiscal conditions allow and draft legislation for this...

SMEs are not, as such, massively affected by the Chancellors Budget proposals, though of course many business proprietors will be affected at a personal level by the personal tax changes noted elsewhere in this Budget Summary. Increasing the...

Without doubt the most interesting aspect of the Budget concerns the taxation of UK resident foreign domiciliaries. The government is proposing sweeping and multi-faceted reform:The remittance basis will be abolished with effect from 6 April 2025. In...

The further 2p cut to the main rates of employee and self-employed NICs will: benefit 27.6m employees and 2.2m self-employed workers at a cost of around 10 billion per year. Everyone earning more than 12,570 a year will...

From a property tax perspective, there were three main changes of note as outlined below.Firstly, furnished holiday letting regime is to be abolished from April 2025. The government has announced that draft legislation will be published in due...

Tax risk focused announcements were less prominent than in previous years Budgets, but there were still some proposals of note.As expected, referring to the widely held mantra that everyone must pay their fair share of tax, the Chancellor...

The government has announced that it will be including the enabling provisions necessary for the introduction of regulations providing for Reserved Investor Fund (Contractual Schemes) or RIFs for short in the Spring 2024 Finance Bill. This is welcome...