Autumn Budget 2018 – Stamp Duty on listed securities

Stamp Duty and Stamp Duty Reserve Tax (SDRT) are only levied on the value of the consideration given in a transaction subject to stamp tax. This means that the amount of Stamp Duty or SDRT payable can be unconnected with the value of the assets...

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Autumn Budget 2018 – Digital Services Tax

Governments have found it very hard to capture the economic activity of the digital economy within the existing tax system, with public disquiet about the apparent mis-match between the taxes collected from and revenues generated in the UK by the...

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Autumn Budget 2018 – Employment Allowance Restricted

Employment allowance was introduced in the 2013 Budget and allows employers to reduce their liability for secondary Class 1 National Insurance Contributions (‘Employer NIC’) by £3,000 per annum. From April 2020 an employer will only be...

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Labour’s inclusive ownership plan

The Shadow Chancellor announced a new form of employee share ownership structure in his speech to the Labour Party conference on 24 September 2018. The proposal The new structures, to be called Inclusive Ownership Funds (“IOF”), would be...

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EBT update

In Finance Bill 2017, HMRC renewed their stated aim of tackling any schemes that had been used by companies to remunerate their employees, or their families, without paying income tax or National Insurance Contributions (‘NIC’). Under the new...

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