Factsheets

From 1 April 2023, the rate of Corporation Tax (CT) increased from 19% to 25%. However, the lower rate of 19% can still apply, dependent on the level of “augmented profits”…

It has now been over 2 years since PIVA was introduced as a business-facilitation measure to help businesses cope with what otherwise could be significant cashflow problems when importing goods…

For accounting periods beginning from 1st April 2023, companies must inform HMRC of their intention to submit an R&D claim no later than six months after the end of the…

The deferred element of the consideration may be quantified at a later date, typically using a formula based on two to three years’ post-acquisition revenue or profits. These arrangements are…

Currently, there are two R&D tax relief schemes in the U.K.; one for small and medium-sized enterprises (enterprises having a headcount of fewer than 500 employees and with either a…

BADR is a capital gains tax (CGT) relief intended to incentivise individuals to grow and invest in their businesses by reducing the rate of CGT to 10% on material disposals…

This seal of approval can be obtained by submitting a clearance application to HMRC in advance to confirm the tax treatment of a transaction or event, where possible. Obtaining clearance…

The new arrangements will come into force in relation to VAT periods starting on or after 1 January 2023. Key points A new penalty system for late payments of VAT…

Rates of SDLT for purchases of non-residential property Purchase consideration SDLT rate Up to £150,000 0% £150,001 – £250,000 2% Above £250,000 5% Rates of SDLT for purchases of residential…