Is the UK a good place to have a holding company?23 November 2023
The UK is a leading economic power and is one of the world’s leading recipients of foreign direct investment. Numerous factors contribute to the UK’s success at attracting foreign direct investment, including, but not limited to, having an attractive tax regime for holding companies. Whilst we have seen an increase in corporation tax from 19% […]
If you run a private limited company (LTD or Limited), the main operational tax burden you face is corporation tax (CT). CT is levied on your company’s taxable profits as well as certain gains arising from asset sales where the value has increased. The current CT rate in March 2023 is 19% but is set […]
On Monday 17 October The new Chancellor of The Exchequer, Jeremy Hunt, brought forward a number of measures from 31 October’s Medium-Term Fiscal Plan. The decisions taken are to ensure the UK’s economic stability and to provide confidence in the government’s commitment to fiscal discipline. Included in the announcement were details of the Energy Price Guarantee and […]
Following on from the fiscal event held on 23 September 2022, the UK Government has been under considerable pressure to react to the turbulent financial markets, who perceived the array of tax cutting measures pursuant to the fiscal event as being unfunded and therefore increasing the country’s national debt. Today the Prime Minster, Liz Truss, […]
On 23 September 2022, Kwasi Kwarteng, the Chancellor of the Exchequer (the UK Finance Minister) delivered a fiscal statement to the House of Commons which unashamedly focused in on economic growth, outlining significant reductions to the current rates of income tax, a reversal of the national insurance contribution (“NIC”) increases, the scrapping of the planned […]
The Importance of the “wholly and exclusively” Principle for Corporation Tax
The “wholly and exclusively” concept is a cornerstone principle of UK corporation tax. Not every expense charged in the income statement of a company is an allowable deduction for tax purposes. Broadly, an expense attracts tax relief to the extent that the cost has been incurred by a business wholly and exclusively for the purposes […]
Against the economic backdrop of high inflation and geopolitical uncertainties, the Chancellor of the Exchequer (UK Minister of Finance) Rishi Sunak delivered his Spring Statement yesterday with the emphasis on plans to reform and reduce taxes, focus on helping families with the cost of living and to putting billions of pounds back into the pocket […]
Are you moving back from abroad & not made National Insurance contributions? Have you or someone you know lived outside of the UK for a prolonged period of time? If so, you have likely had a break in contributing national insurance payments and could be at risk of not being able to claim the full […]
Arnold Hill & Co LLP joins IR as the exclusive Tax (Private Client) Member in England
IR Global, the world’s largest exclusive network of advisory firms is delighted to introduce Reuben Fevrier of Arnold Hill & Co LLP. Reuben has joined IR as our exclusive Tax (Private Client) Member in England. Reuben read Politics and Law at Southampton University before joining Mazars as an audit trainee in 1996. After qualifying as a chartered […]
