A trivial confusion

When employers provide small unexpected gifts to their employees, those items are only tax-free if they qualify as a trivial benefit. However, there is a lot of confusion about what constitutes as a trivial benefit as there are two cost points, and...

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No safe havens 2019 – offshore compliance matters

Since 2010, HMRC have raised an additional £2.9 billion through its focus on offshore non-compliance, through initiatives including 6 separate disclosure facilities, a deal with Switzerland and the introduction of a series of legislative measures,...

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Update to HMRC’s ‘Tackling tax avoidance, evasion, and other forms of non-compliance’ policy document

A number of anti-avoidance measures including anti-fragmentation rules and changes to Controlled Foreign Company rules were announced in the Budget 2018 to be enshrined in legislation in the Finance Act 2019. The ‘Tackling tax avoidance, evasion,...

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Changes to Entrepreneurs’ Relief: Impact on Growth Shares

In the Autumn Statement, the Chancellor announced important changes to the tests to qualify for Entrepreneurs’ Relief (‘ER’).  These changes have the potential to have a significant impact on the employees who have received employee...

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Is a grain silo plant?

Since capital allowances were invented accountants and businesses have struggled to determine whether certain items should be classified as “plant”, and hence qualify for higher capital allowances, or whether the expenditure was on a building or...

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