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Research & development tax reliefs offer an attractive cash benefit to
companies and the rate of relief has just gone up.
Are you responsible for the management of international assignees in the UK?
If you are, you need to act now to plan for the remittance basis of taxation
which was enacted on 21 July 2008, or risk paying more tax later.
A number of recent events such as flooding in Yorkshire, Humberside and
Morpeth, July 7 bombings and tropical storms in the USA have highlighted the
varied risks to which organisations are exposed.
Given the most volatile and uncertain conditions in living memory,
leadership and management face challenges that lie at the very heart of
competitiveness and the future of their business.
Following new tax legislation that received Royal Assent in July (but
effective 6 April 2008), long term UK residents with a non domiciled status
must decide whether to be taxed on worldwide income and gains or pay a £30,000
charge and use the remittance basis.
If you have paid CGT at a rate higher than 18% on chargeable gains arising
over the past three years, it may be possible to claim a repayment from
HMRC.
The current economic climate of restricted credit and gloomy prospects for
growth makes assessing the value and debt capacity of targets ever more
critical in M&A transactions.
The Government’s support of enterprise research and development has been
bolstered recently with a widening of who is eligible for maximum relief and an
increase in what can be claimed across small and large organisations. Now that
the 31 March 2008 deadline for filing R&D claims for expenses up to 31
March 2006 has expired, efforts should be directed towards maximizing future
claims in light of the new changes.
Announcements in this year’s Budget represent a major change in the way that
HMRC will do business with its ‘customers’.
How can a business manage its costs effectively if it lacks an understanding
of what it should be paying for resources?
The climate is changing for company car fleets. Budget 2008 heralded changes
to the way that company car schemes are taxed.
The growing economic strength of India and China has been one of the major
business phenomena of recent years and has manifested itself through high
profile transactions.
What a difference a year makes. 2007 will likely be remembered as the year
that the world changed. After years of denial by partisan special interest
groups, a consensus finally formed that the science of climate change is
incontrovertible.
Recent changes to the Construction Industry Scheme(CIS) mean construction
businesses again need to consider employment and payment status to avoid a
visit from the HMRC.
Taxpayers now have a window of opportunity to submit claims, conceivably
dating back to the introduction of VAT in the UK in 1973.
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