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Archive for August 2011

Historic Swiss-UK tax treaty

After a short delay earlier this year the UK and Swiss authorities have announced an agreement on the treatment of monies held by British Citizens in secret Swiss bank accounts. Still to be signed by both governments and ratified in Parliament, the agreement is expected to come into force in 2013. Within the agreement, the…

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Entrepreneurs Relief for Limited Liability Partnerships

Once thought to be the preserve of businesses such as Solicitors and Accountants, Limited Liability Partnerships (LLP) are slowing growing in popularity in the wider business sphere. Companies House statistics report that 10,145 new LLP were formed in the UK in the period 2010/11. Being a half way house between partnership and full company status,…

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Relief as additional Enterprise zones announced

The recent Government announcement on the creation of a further eleven Enterprise Zones has been seen as welcome news for businesses, councils and investors alike. At the time of the announcement in the March 2011 Budget that eleven zones were to be created, the Chancellor invited bids for a further ten zones. In all thirty…

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What price the 50% tax rate?

When the previous Government introduced the idea of a 50% top tax tier many predicted that all this would achieve would be a mass exodus of the wealthy from UK shores. Indeed in an article of 13 December 2009, the Sunday Times reported that Britain’s financiers and entrepreneurs were quitting the UK at the rate…

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Tax help for riot-affected businesses

For those businesses affected by last week’s riots, the last thing that they need is to have to deal with questions of tax. Well done then to HMRC who have opened a dedicated help line for all those individuals and businesses affected by the riots. The helpline (0845 366 1207) is to be staffed by…

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