Business Tax

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Tax | Incorporation and profit extraction: tax tips

Croner-i experts examine whether tax motivated incorporation still has a place in light of tax changes coming in 2023 and look at tax efficient profit extraction for existing companies

1 Jun 2022

Tax | Global tax rate pushed back by a year

The OECD has confirmed that plans to introduce a global base corporate tax rate are being delayed by a year as the EU fails to reach agreement

30 May 2022

Tax

Business Tax

International Tax

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Tax | R&D tax incentive claims – opportunities and risks

The research and development (R&D) tax incentives claims environment continues to evolve following relatively significant changes during 2021 and the first few months of 2022, explains Craig Flynn, VIP R&D consultant at Croner-i

30 May 2022

Tax | Businesses using tax havens targeted by HMRC

HMRC is tracking 277 UK businesses it suspects of using tax havens to artificially reduce their tax bills in the UK, says law firm Pinsent Masons

30 May 2022

Tax | Warning on potential Jubilee tax trap for rural businesses

Rural businesses planning to use their land for public Jubilee celebrations need to consider the tax implications

30 May 2022

Tax

Business Tax

Tax Compliance

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Tax | Energy profits levy set to raise £5bn

Following calls for a windfall tax on oil and gas companies, the Chancellor has announced a 25% energy profits levy, set to raise £5bn in year one, effective from today

26 May 2022

Tax | More disclosures required on CT600 company tax returns

Even the most diligent taxpayers and advisers may have missed the recent update to HMRC’s guidance on how to complete a CT600 company tax return, warns Hannah Lloyd, corporate tax partner, RSM

25 May 2022

Tax

Business Tax

Tax Compliance

Tax | HMRC raises £16bn in NIC in April

HMRC collects the most National Insurance contributions (NICs) ever bringing in £16bn in April 2022

24 May 2022

Tax | UK falls to 21st place on global tax league table

The UK has dropped to 21st place from its previous position at sixth due to the increase in corporation tax to 25% in April 2023

23 May 2022

Tax

Business Tax

International Tax

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Tax | Businesses lost £414m due to cross-border tax complexity

Cross-border tax complexity when trading with the EU cost UK businesses £414m in lost revenue last year, according to the Centre for Economics and Business Research (Cebr)

19 May 2022

Tax

Business Tax

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Tax | Sunak promises tax cuts for businesses

In a speech to the Confederation of British Industry (CBI) the Chancellor has promised tax cuts for businesses in the Autumn Budget

19 May 2022

Tax | HMRC pauses payments for R&D tax credits

HMRC has halted the payment of research and development (R&D) tax credits while it investigates irregularities in claims for the relief

19 May 2022

Tax

Business Tax

HMRC

Tax | R&D reforms – time for drastic steps?

The Treasury will set out its plans for the future of research and development (R&D) at the Budget hastened by low usage by SMEs. Nimesh Patel, tax partner at Grunberg & Co says an overhaul is required

19 May 2022

Tax

Business Tax

Tax Planning

Tax | Windfall tax voted down by MPs

MPs have voted against the introduction of a windfall tax for North Sea energy profits

18 May 2022

Tax

Business Tax

Politics

Tax | Single account for business taxes would reduce complexity

Businesses support the rollout of a single financial account containing all tax information to avoid the current complexity of using multiple portals to pay tax liabilities

18 May 2022

Tax | Q&A: holdover relief when incorporation relief not available

In this week’s Q&A from Croner Taxwise, we consider the tax rules applicable when a business owner wants to incorporate a property into another business

17 May 2022

Tax

Business Tax

Tax Compliance

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Latest news

Tax | Incorporation and profit extraction: tax tips

Tax | Global tax rate pushed back by a year

Tax | R&D tax incentive claims – opportunities and risks

Tax | Businesses using tax havens targeted by HMRC

Tax | Warning on potential Jubilee tax trap for rural businesses

Tax | Energy profits levy set to raise £5bn

Tax | More disclosures required on CT600 company tax returns

Tax | HMRC raises £16bn in NIC in April

Tax | UK falls to 21st place on global tax league table

Tax | Businesses lost £414m due to cross-border tax complexity

Tax | Sunak promises tax cuts for businesses

Tax | HMRC pauses payments for R&D tax credits

Tax | R&D reforms – time for drastic steps?

Tax | Windfall tax voted down by MPs

Tax | Single account for business taxes would reduce complexity

Tax | Q&A: holdover relief when incorporation relief not available