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Annual Tax on Enveloped Dwellings (“ATED”) is part of a package of taxes affecting residential properties in the UK acquired for, or valued at, over GBP£2 million, which are held (enveloped) by a Non Natural Person (“NNP”) (i.e. a company, partnership or collective investment scheme – based in the UK or overseas).
The tax package comprises:
Tags: United Kingdom, Tax
There are two schemes of relief available to companies in the UK, depending on whether they are a small or medium sized enterprise (“SME”) or a large company.
Tags: United Kingdom, R&D
In a previous blog post we outlined how the UK Finance Act, 2011 reformed the taxation of foreign branches (overseas permanent establishments).
Tags: United Kingdom, Tax, Investment
The HMRC announced its new offshore disclosure facilities (“ODFs”) for the Isle of Man, Guernsey and Jersey on 8 April 2013. This facility will enable UK taxpayers with assets or investments held in British Crown Dependencies to bring their tax affairs up to date.
Tags: United Kingdom, Tax, Offshore Companies
Since 2011 we have written a number of blog posts on FATCA. In our blog post FATCA For The UK, we mentioned an implementation date of 1 January 2013. That date was later postponed to 1 January 2014. We highlighted this in our blog post FATCA – Implementation Deadlines and provided an overview of the key implementation deadlines following the release of IRS Announcement 2012 – 42. However, in July of this year, the US Treasury Department announced the further postponement of the withholding tax regime imposed by FATCA on foreign banks and other foreign financial institutions (FFIs) by six months until the 1 July 2014.
Tags: United Kingdom, Tax, USA
In the UK, a director may be removed from their position by the company in certain circumstances.
Tags: Legal, Directors, United Kingdom
This material is intended to give the reader an overview on the up-coming changes to the UK/IRL GAAP (Generally Accepted Accounting Principles).
Tags: Ireland, United Kingdom, Accounting
In our previous blog post we examined the case Prest (Appellant) v Petrodel Resources Limited & Others (Respondents). This case involved a claim for financial remedies following an acrimonious divorce between oil tycoon Michael Prest and his former wife, Yasmin Prest.
Tags: Legal, United Kingdom, Trusts
The UK Government Department, UK Trade & Investment (UKTI) works with UK-based businesses to try and ensure their success in international markets and to encourage the best overseas companies to look to the UK as their global partner of choice.
Tags: United Kingdom, Mexico
There are a number of reasons why a company would consider purchasing its own shares, some of which include returning surplus cash to shareholders, increasing earnings per share or simply as an exit route for shareholders.
Tags: United Kingdom, Limited Companies, Shares
