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UK government proposals to make directors liable for tax debts when a company becomes insolvent should only apply when the company has evaded, as opposed to avoided, tax and should not extend to shareholders, a tax expert has said. 17 Aug 2018
Capital allowances were available on part of the expenditure incurred by energy company SSE on a hydro-electric scheme, the UK's First-tier tax tribunal has decided. 15 Aug 2018
The MLI is an agreement by over 70 countries which will enable over a thousand double tax treaties to be interpreted in a way that implements the recommendations of the Organisation for Economic Cooperation & Development (OECD) which require changes to...
The substantial shareholding exemption (SSE) applies to companies and exempts certain gains that would otherwise be subject to UK corporation tax following a disposal of shares.
A person or company can penalised if they 'enable' offshore UK tax evasion or non-compliance by others. Policies and procedures designed to prevent companies from committing the corporate criminal offences of failing to prevent the facilitation of tax evasion...
A new UK corporate interest tax deduction restriction applies from 1 April 2017. The new restriction increases the compliance burden, with highly geared groups significantly affected.
From 30 September 2017 it is a criminal offence in the UK if a business fails to prevent its employees or any person associated with it from facilitating tax evasion under the Criminal Finances Act 2017. Businesses need to take action to minimise their risk...
The code of practice on taxation for banks (the code) was introduced in 2009 and applies to banks and building societies. It is designed to change the attitudes and behaviours of banks towards tax avoidance. It encourages banks operating in the UK to adopt...
The amount collected from the UK's diverted profits tax (DPT) increased by over a third (38%) to £388 million in 2017/18, up from £281 million in the previous year, according to figures released by HM Revenue & Customs (HMRC). 06 Aug 2018
The UK's tax authority does not have to pay compound interest on the repayment of tax which was levied in breach of EU law, the Supreme Court has decided in a decision concerning life insurance company, Prudential Assurance. 26 Jul 2018
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Over the last few years the pressure to increase tax revenues has led to continued complex changes to tax legislation, coupled with a more aggressive approach to tax planning from HMRC. Our team of lawyers, accountants and former HMRC officers gives us a broad perspective and enables us to guide you through the maze of complex rules to help you achieve your business objectives.
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