Technical Updates

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

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French Tax Data Card 2021

Please download the pdf to view the French Tax Data Card for 2021.
Tax data card Technical updates

Coronavirus Job Retention Scheme (CJRS)

As a result of the disruption caused by the ongoing COVID-19 pandemic the government has introduced a number of measures designed to protect employers and employees, one of which being the Coronavirus Job Retention Scheme (CJRS). Under this scheme, employees may be ‘furloughed’ to protect against them otherwise being made redundant. The scheme is applicable to all UK employers…
Business taxes Compliance Technical updates

Trading with the EU after the end of the Transition Period

From 1 January 2021 the UK will cease to be treated as an EU member state for VAT purposes. Although the UK left the EU on 31 January 2020, a period of transition was agreed until 31 December 2020. This means that, until that date, VAT rules continue to apply as if the UK remained in the EU. In 2021 there will be fundamental changes in the way that trading with the EU takes place…
Compliance VAT Technical updates

The 5th Money Laundering Directive as it relates to trusts

The EU’s 5th Money Laundering Directive (“5MLD”) was transposed into UK law on 10 January 2020. The Directive affects all UK express trusts and many non-UK express trusts, and extends the reach of the 4th Money Laundering Directive (“4MLD”), which itself was transposed into UK law on 26 June 2017. On 15 July 2020, the report on the government’s consultation on the implementation…
Compliance Trusts & Estates Technical updates

VAT Update: Temporary reduced rate of VAT at 5% on hospitality supplies, hotel accommodation and admissions to attractions

Following the budget on 3 March 2021, the government announced that the temporary reduced rate of VAT of 5% will be extended until 30 September 2021, having previously been extended to 31 March 2021. To help businesses manage the transition back to the standard 20% rate, a 12.5% rate will apply for the six months to 31 March 2022.
VAT Technical updates

Summer Economic Update

The Chancellor of the Exchequer delivered his summer economic update which sets out the government’s plan for the second phase of a three phase plan for economic recovery from coronavirus. The main focus of this phase is to protect, support and create jobs for people who have been particularly impacted by the rapid contraction in the economy. The third phase of the government’s…
Technical updates

New intra-EU call-off stock arrangements for VAT

With effect from 1 January 2020, a new arrangement for call-off stock within the EU VAT area has been brought in to simplify VAT treatment. The UK continues to remain within the EU VAT area and so the changes also apply to UK businesses. A “Call-off stock” arrangement is when goods are transferred from a supplier in one EU member state (known as the Member State of origin) to a…
Compliance VAT Technical updates

Changes to Capital Gains Tax payments – residential property

These provisions were introduced in Finance Act 2019 applied to non-UK resident taxpayers since 6 April 2019 and apply to UK residents from 6 April 2020. UK resident taxpayers have, historically, reported the disposal of UK residential property through a Self Assessment tax return, and then paid any tax due by 31 January following the end of the tax year of disposal. Under the new…
Compliance Personal taxes Property Technical updates

COVID-19 - Tax and Financial Reliefs

The disruption to business as a result of measures put in place to limit the spread of COVID-19 is unprecedented. The UK Government has announced a number of measures designed to cushion the financial impact to businesses, and although no details have been announced, what we know about these measures is summarised in this update.
Business taxes Compliance Personal taxes Technical updates

UK Tax Data Card 2020/21

Please click the download PDF button to view the UK Tax Data Card 2020/21. 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

Non-Resident Landlord Companies

From 6 April 2020, non-UK resident companies that carry on a UK property business or have other UK property income will be brought within the scope of corporation tax (as opposed to UK income tax, as is currently the case). The change in legislation also applies to those who invest in UK property through collective investment vehicles. The aim of the legislation is to equalise…
Business taxes Compliance Property Technical updates

2020 Budget Update

This document highlights the more important tax changes and announcements from the 2020 Budget.
Budget update Technical updates