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

Serial Tax Avoidance Regime (‘STAR’)

On 15 September 2016, new rules came into force in relation to ‘serial tax avoiders’. These rules mean that it may be in the best interests of taxpayers who have used (or are using) tax avoidance schemes to declare to HMRC the use of and leave those schemes as quickly as possible. Tax avoidance schemes that count towards serial tax avoidance status are: Schemes entered into on…
Compliance Technical updates

Directors’ Loans - Optional Interim Relief for Small Entities

Small entities fell within the scope of FRS102 for accounting periods commencing on or after 1 January 2016. Under FRS102, a notional interest charge, based on a market rate, had to be calculated and recognised in the profit and loss account where the terms of non-fixed term loan were not at an arm’s length price. The terms of loans from directors are commonly at a non-arms’s length…
Business taxes Technical updates

Legal Entity Identifiers

UK investment management firms currently have to comply with a piece of legislation known as The Markets in Financial Instruments Directive (MiFID). Introduced in November 2007, it sought to improve the competitiveness of financial markets within the European Union by creating a single market for investment services and activities, and to ensure a high degree of protection for…
Compliance Technical updates

UK Tax Data Card 2017/18

Please download the pdf to view the UK Tax Data Card 2017/18.
Tax data card Technical updates

French Tax Data Card 2017

Please download the pdf to view the French Tax Data Card 2017.
Tax data card Technical updates

VAT Update Issue 1 2017

U-DRIVE LTD [2017] BVC 510 This case considers the right to input VAT recovery in relation to tripartite arrangements.  It is important to understand in such situations who is the actual recipient of the supply since the right to input VAT deduction is conferred on the recipient and not the person contractually obliged to settle the liability. U-Drive is a vehicle hire…
VAT Technical updates

Making Tax Digital - March 2017 Update

Note: The government announced significant delays to making tax digital in July 2017. This update should therefore be read in conjunction with our July 2017 update which is available on our website.
Business taxes Compliance Personal taxes Technology VAT Technical updates

Spring Budget 2017 Update

Note: This update was written on 15 March 2017. It is based on the government’s proposals at that point in time which don’t necessarily represent the final legislation. No action should be taken based on this update without taking proper advice.
Budget update Technical updates

Reform of the Non-Dom Regime - December 2016

Note: The government finalised the reform of the non-dom regime, and this was part of the second Finance Act of 2017 which gained Royal Assent on 16 November 2017 - please see our technical update “Reform of the non-dom regime – Summary”.
Non-Dom Technical updates

Autumn Statement 2016

Note: This update was written on 24 November 2016. It is based on the government’s proposals at that point in time which don’t necessarily represent the final legislation. No action should be taken based on this update without taking proper advice.  
Budget update Technical updates

Reform of the Non-Dom Regime - August 2016 Consultation

Note: The government finalised the reform of the non-dom regime, and this was part of the second Finance Act of 2017 which gained Royal Assent on 16 November 2017 - please see our technical update “Reform of the non-dom regime – Summary”.
Non-Dom Technical updates

Charities Update - May 2016

HMRC have amended the required wording for gift aid declarations with effect from 6 April 2016.  The revised declaration emphasises that it is the donor’s responsibility to make good any shortfall between the income tax and capital gains tax they pay in the tax year and the Gift Aid claimed on their donations.  Charities should review any declarations issued moving…
Charity Technical updates