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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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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Company Formation Org The VAT1 form will only be available to customers through the VAT helpline from mid November 2023. Over 95% of businesses, or their agents, already use HMRC’s online VAT registration service (VRS) to apply for VAT registration. HMRC wants to increase
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