Business Tax

Tax | Budget 2021: tax surcharge on UK bank profits cut to 3%

The Budget announced that the surcharge for banks will be cut to 3% from the current 8% with the profit threshold at which banks will start paying the top-up rising to £100m from £25m

28 Oct 2021

Tax | Budget 2021: Tax relief for creative and cultural industries to rise

In the budget, the Chancellor has announced the tax relief of up to 50% for theatres, galleries, and other cultural organisations worth almost £250m

27 Oct 2021

Tax | Budget 2021: tonnage tax reform to open up shipping registrations

The government will introduce a package of measures to reform the tonnage tax regime from April 2022 to attract ships to register in the UK

27 Oct 2021

Tax | Budget 2021: residential property developer tax set at 4%

After the earlier announcement that a residential property developer tax would help pay for remedial cladding work, the Chancellor confirmed the tax will take effect from April 2022

27 Oct 2021

Tax | Budget 2021: Alcohol duty increase scrapped plus system reform

The Chancellor has scrapped the planned duty increase on spirits, wine, cider, and beer announcing higher taxes for stronger alcoholic drinks

27 Oct 2021

Tax | Budget 2021: R&D tax relief criteria to prioritise UK-based investment

In the Budget, the Chancellor announced that from April 2023 research and development (R&D) tax relief will be refocused onto UK based businesses

27 Oct 2021

Tax | Budget 2021: annual investment allowance extended

In the autumn Budget, the Chancellor Rishi Sunak confirmed measures to support business investment with changes to allowances and covid loans

27 Oct 2021

Tax | SMEs to pay £2.4bn more after national insurance increase

SME businesses will pay an extra £2.4bn a year due to the rise in National Insurance contributions (NICs) to pay for the social care levy

26 Oct 2021

Image for businesses call more green tax incentives

Tax | Businesses call for more green tax incentives

Businesses are calling on the Chancellor to introduce more tax incentives to encourage businesses to go green in the Autumn budget

25 Oct 2021

Image for uk falls down global ranking tax burden soars

Tax | UK falls down global ranking as tax burden soars

The rising tax burden means that the UK is currently ranked 22nd out of 37 OECD countries in the International Tax Competitiveness Index, released by the US-based Tax Foundation

25 Oct 2021

Tax Planning

Image for hrmc nudge letters target cryptocurrency investors

Tax | HRMC nudge letters target cryptocurrency investors

HMRC plans to send out nudge letters to cryptocurrency investors to remind them to pay the correct tax

22 Oct 2021

Tax | UK agrees to transition terms to global tax deal

The UK has agreed a plan to phase out the digital services tax (DST) and transition to the new global corporation tax

22 Oct 2021