Tax First February 2010
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February 2010
In this issue we detail HM Revenue & Customs' (HMRC) clarification on the scope of the Chancellor's bank payroll tax and explain which financial services institutions will be affected. We also look at HMRC's approach to dividends received by UK companies and confirm that the Court of Appeal's Vodafone 2 judgment is now final.
We outline the debt cap rules around UK deductions for intra-group interest expense, and also examine debt cap rule changes published for consultation with the 2009 Pre-Budget Report.
PricewaterhouseCoopers' Executive Compensation - Review of the Year 2009, shows that FTSE executives' pay increases have been outstripped by UK average pay increases for the first time in a decade. You can read the full report via the supplied link in the HR section.
We look at HMRC's current guidance on 'Fleming' claims and also highlight how the European Commission (EC) has challenged eight member states, including the UK, with regard to the application of VAT grouping.
Lastly, we examine the opportunities for R&D tax incentives - HMRC has recently changed its practice on which activities are eligible, so now could be the time to make a claim.
