Technical Updates

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27 August 2021

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 17 May 2021, HMRC’s ‘Trust Registration Service Manual’ was released and this note…
Trusts & Estates Technical updates
29 July 2021

Selling to Consumers in the EU – VAT One Stop Shop Reforms

“One Stop Shops” are put in place by the EU to ease the burden on businesses selling to consumers across the Union. Rather than having to register for VAT in each country, One Stop Shops permit businesses to submit a single VAT return declaring sales in multiple EU Member States. On 1 July 2021 a new Import One Stop Shop came into effect and reforms were made to the existing Mini…
Technical updates
05 May 2021

Stamp duty land tax surcharge for non-residents

In the 2018 Budget the Chancellor announced that a surcharge on SDLT rates will be applied to acquisitions of residential property in England and Northern Ireland. The surcharge will apply to transactions on or after 1 April 2021.
Non-Dom Property Technical updates
05 March 2021

UK Tax Data Card 2021/22

Please click the download PDF button to view the UK Tax Data Card 2021/22. 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
04 March 2021

2021 Budget Update

This document highlights the more important tax changes and announcements from the 2021 Budget.
Budget update Technical updates
20 January 2021

French Tax Data Card 2021

Please download the pdf to view the French Tax Data Card for 2021.
Tax data card Technical updates
06 November 2020

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
27 October 2020

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
10 September 2020

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
28 July 2020

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
08 July 2020

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
27 May 2020

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