Following the Brexit referendum in 2016, the United Kingdom officially left the European Union on 31st January 2020 and since then, the landscape of business has undergone significant transformations. Brexit not only redefined trade relations but also altered the legal and operational
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As part of a drive to cut complexity and burden from legislative reporting requirements, the monetary thresholds that determine company size are being raised by 50% in the UK. UK Prime Minister Rishi Sunak has announced that company size monetary thresholds will
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New flexible working laws in place from 6 April will hand employees greater rights to flexible working. Are you ready for the reforms? Most businesses now offer some form of flexible working, but imminent changes to flexible working laws may affect employers
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Resident companies are taxable in the United Kingdom on their worldwide profits (subject to an opt-out for non-UK PEs), while non-resident companies are subject to UK corporation tax on the trading profits attributable to a UK PE, the trading profits attributable to
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On 29 January 2024, ICAEW Head of Tax Strategy, Frank Haskew, sent two letters to the Financial Secretary to the Treasury (FST), Nigel Huddleston MP. The first letter concerned HMRC service performance. It called for increased investment in HMRC to develop better digital
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As well as measures to tackle economic crime, the new Economic Crime and Corporate Transparency Act aims to improve information held on the UK companies register. Following a lengthy parliamentary process, the Economic Crime and Corporate Transparency Act (ECCTA or the Act)
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There is broad support for measures to reform the transfer pricing, permanent establishment and diverted profits tax rules. Respondents to the consultation on UK law reform of the transfer pricing, permanent establishment and diverted profits tax rules launched in 2023 broadly agree
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HMRC issues its guidelines for compliance on what qualifies as R&D for tax purposes. The publication of HMRC’s latest guideline highlights the importance of correctly identifying whether a research and development (R&D) claim meets the necessary conditions to qualify for tax relief.
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Following a sometimes challenging parliamentary process of debate and amendment, the Economic Crime and Corporate Transparency Bill received Royal Assent on 26 October 2023, becoming the Economic Crime and Corporate Transparency Act 2023 (ECCTA). The majority of the measures outlined in the
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Company Formation Org In the summer, a Treasury Committee report concluded that a “comprehensive and systematic” review of all tax reliefs is needed to identify opportunities for simplification. Responding to that report, the Financial Secretary to the Treasury (FST), Victoria Atkins, states that the
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