0897 099 890

Posts Tagged ‘Simon Newsham’

2011, a taxing time

As we say goodbye to 2011 and start digesting the many hundreds of pages which make up the draft legislation for the 2012 finance bill; it is perhaps worth taking stock of the year just past and reflecting on what this might mean for the future of taxation. For many, 2011 was the year of…

Read More

EU Threatens Swiss deal

At the end of August we reported on the historic Swiss-UK tax deal which was designed to put an end to tax evasion via Swiss investments whilst maintaining the cherished secrecy of such accounts. This deal was structured to include a one-off payment from Swiss banks to the UK followed by a regular collection of…

Read More

VAT and Compound Interest

Those dealing with straightforward VAT input and output calculations may not be aware of the complexities of VAT when it comes to international transactions or the extent to which the European Court of Justice (ECJ) has an influence on more complex VAT questions. In fact there are numerous occasions on which the UK tax tribunals…

Read More

UK double taxation treaties and Delaware LLCs

The upper tax tribunal has released its decision in respect of HMRC v George Anson, a case which involved the interpretation of the UK/US double taxation agreement in respect of Delaware LLCs. By way of background it is helpful to understand the following: • A transparent entity is one in which the member is entitled…

Read More

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…

Read More

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,…

Read More

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…

Read More

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…

Read More

Self Assessment

Those with straightforward tax affairs who are paid via PAYE may never have to complete a self assessment tax form. For the rest, including the self employed, company directors, trustees and those with a foreign income completion of an annual self assessment form is a necessity. When it comes to paying tax a few of…

Read More

New projects for the Office of Tax Simplification

The Exchequer Secretary, David Gauke, has written to the Office of Tax Simplification (OTS) asking them to review three further areas of taxation. The aim of these reviews is to streamline and simplify the process of tax calculations thereby reducing cost and hopefully eliminating the chance of error. The three areas concerned are: Taxation of…

Read More