Latest Corporate Tax Advisory

Annual Tax on Enveloped Dwellings (ATED) is an annual tax charge payable by companies, partnerships (with at least one corporate partner) and certain collective investment schemes that own UK residential properties exceeding £500,000.   The annual chargeable period starts on 1 April each year and both a return should be submitted online to HMRC and any tax paid within one month of the start of the chargeable period to…

A small but potentially significant change in the 2025 Autumn Budget has largely slipped under the radar. HMRC have tightened the anti-avoidance rules for share exchanges and company reconstructions, expanding its ability to challenge transactions that would previously have been treated as tax neutral. Although the update may appear minor at first glance, it could…

In many situations a tax planning review may identify opportunities to minimise the tax you are liable to pay on a transaction or situation.   These ’opportunities’ will relate to:   1. Do not make the transaction/action If being reviewed in advance, don’t do something that triggers a tax charge (eg extracting money from a…

HMRC’s Connect Tool Raises £4.6bn in Just One Year as Tax Investigations Surge HMRC’s powerful data analysis tool, Connect, has raised an additional £4.6bn in the 2024/25 tax year alone. This translates to a 35% jump on its previous annual average of £3.4bn, according to data released under a Freedom of Information request by Pinsent…

Employment Related Securities (‘ERS’) are securities that are acquired in connection with an employment. The ERS legislation aims to tax as employment income any value received by reason of an office or employment on the acquisition, holding or disposal of shares and other securities.   The term securities is broad and includes shares, debentures, loan…

Have you considered maximising Capital Allowances?   From 1 April 2023 companies subject to corporation tax will receive a 100% first year tax deduction for expenditure they incur on qualifying plant and machinery. Originally announced as a temporary measure, the UK Government subsequently announced in the Autumn Statement that the relief will remain in place…

From 1 April 2023 the rules changed so that the rate of corporation tax that a company pays, and when, is dependent on the level of its profits as well as the number of its associated companies.     Rate Of Corporation Tax Standalone companies from 1 April 2023 with profits exceeding £250,000 will be…

HMRC have delayed the introduction of the claim notification forms and additional information requirements regarding Research & Development (“R&D”) tax claims by a week due to delays in Finance Bill timetabling.   Originally due to come into effect on 1 August 2023, the Relief for R&D Regulations 2023 will now be put into law on…

Now that the 30 April 2023 Annual Tax on Enveloped Dwellings (ATED) filing deadline has passed, it is important to remember that additional returns may need to be submitted to HMRC during the ATED chargeable period, which runs from 1 April 2023 to 31 March 2024. The most common events which cause this are explained…

As HMRC have experienced an increase in the number of SME Research & Development (R&D) tax relief claims being made by companies, so have they witnessed a number of fraudulent claims being made. To tackle this abuse, HMRC have established a tax credit compliance team to deal with R&D enquiries.   If a company receives…