Technical Updates

Technical updates

understanding your world

technical updates

In-depth analysis of the issues facing our private clients, entrepreneurs and their businesses.

Filter Technical updates

Substantial Shareholding Exemption

The substantial shareholding exemption (SSE) rules broadly exempt from Corporation Tax the capital gain or capital loss arising on the disposal of certain shares. The conditions include that the shares are ordinary share capital in a trading company or the holding company of a trading group or subgroup where a number of requirements are met by the investing company and by the…
Technical updates

Autumn Statement November 2023

The Chancellor has presented his Autumn Statement, which seeks to address inflationary pressures, the tax burden, and the need for economic growth in the UK. The Statement focused on spending plans and incentives to promote business, with a number of tax and benefit measures which are summarised below.
Technical updates

Spring Budget 2023

The Chancellor of the Exchequer, Jeremy Hunt, delivered his Spring Budget. With the UK now projected to avoid a recession, the Chancellor focused on delivering the Government’s growth plans. As expected, there were no changes to headline tax rates or allowances but there were targeted measures on childcare and pensions to attract people back to work. PERSONAL TAXES AND BENEFITS…
Technical updates

Changes to the corporation tax regime and associated companies

BACKGROUND In October 2022, the government announced changes to the Corporation Tax rate from 1 April 2023, increasing the main rate of Corporation Tax to 25%. In addition, the standard small profits rate is reintroduced to ensure that companies with small profits pay corporation tax at a lower rate. In determining the rate of corporation tax for a company, its augmented profits…
Technical updates

UK Tax Data Card 2023/24

Please click the download PDF button to view the UK Tax Data Card 2023/24. There is also a version of the tax data card which should be easier to read on a mobile device here.
Tax data card Technical updates

Autumn Statement November 2022

The Chancellor has presented his Autumn Statement which addresses the significant economic challenges faced by the UK and the rest of the world, coming after the increase in government debt following the COVID-19 pandemic. The Statement focused on spending plans, but there are a number of tax and benefit measures which are set out below.
Technical updates

International Private Client UK Tax Card 2022

Please click the download PDF button to view our latest UK Tax Data Card. There is also a version of the tax data card which should be easier to read on a mobile device here. This UK Tax Data Card outlines key UK tax considerations for…
Non-Dom Tax data card Technical updates

Statutory Residence Test

Since 6 April 2013, an individual’s residence status in the in the United Kingdom for each tax year has been determined by the The Statutory Residence Test (“SRT”). The objective of the SRT is to alleviate uncertainty surrounding an individual’s tax residency. Extensive guidance and examples as to how the rules operate have been published by HM Revenue & Customs. The test…
Non-Dom Personal taxes Technical updates

Spring Statement 2022

The Chancellor presented his spring statement on 23 March 2022. The statement was overshadowed by increasing inflation which is being described as the “cost of living crisis”. There were limited changes to business taxation and some changes to NICs intended to mitigate the effect of the Social Care Levy (which comes into effect on 6 April 2022) on lower earners. EMPLOYMENT ALLOWANCE…
Technical updates

Basis Period Reform

The way in which business income is charged to income tax is changing from 6 April 2023, affecting all self-employed individuals, partners in trading partnerships, unincorporated entities with trading income, and non-resident companies with trading income charged to income tax. Under the current system, income declared on an income tax return is determined by the business…
Technical updates

UK Tax Administration and Maintenance Day 30 November 2021

On 30 November 2021, the Government published a paper containing technical updates and responses to consultations covering a range of topics, in a similar format to its “Tax Day” update on 23 March 2021. It is part of a larger ten-year roadmap set out by the Government and is aimed at simplifying tax administration and keeping the UK’s tax laws fit for purpose, as well as taking…
Technical updates

French Tax Data Card 2022

Please download the pdf to view the French Tax Data Card for 2022.
Tax data card Technical updates