Digital Services Tax - Latest International Progress
The UK Government is introducing the Digital Services Tax (DST) from April 2020, to ensure certain digital businesses pay tax reflecting the value they derive from UK users. However, a recent OECD proposal indicates progress is being made at an international level. The CIOT has therefore called for the UK’s DST to be delayed.
Changes To IHT Rules On Excluded Property Trusts
Draft clauses for the next Finance Bill have been published confirming that property added to a settlement or transferred between settlements after the settlor has become UK domiciled or deemed domiciled cannot generally be excluded property for IHT purposes.
29 July 2019
Entrepreneurs' Relief - An Update
Capital gains tax (CGT) entrepreneurs’ relief can substantially reduce the CGT payable on the sale of a business or an interest in a business. Changes to entrepreneurs’ relief were introduced in Finance Act 2019, in connection with the qualifying holding period, the definition of a ‘personal company’ and the dilution of a shareholding below 5%.
Insolvency Changes - New Legislation
From 6 April 2020, when a business enters insolvency, more of the taxes paid by its employees and customers, and temporarily held in trust by the business, will go to HMRC rather than being distributed to other creditors.
Digital Services Tax - New Legislation
The Government is introducing the Digital Services Tax (DST) from April 2020, to ensure certain digital businesses pay tax reflecting the value they derive from UK users.