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Sep 11, 2024 | 
lexology.com | Isobel D'Inverno |Bob Langridge
The Chancellor launched a call for evidence in relation to the tax treatment of carried interest. The call for evidence closed on 30 August 2024. Further announcements about the taxation of carried interest are expected on Budget Day (30 October 2024). Carried interest is a form of performance-related reward received by fund managers, primarily within the private equity industry.
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Aug 27, 2024 | 
lexology.com | Isobel D'Inverno
The Chancellor confirmed on 29 July 2024 that VAT will be payable on private school fees from 1 January 2025:VAT will apply to private school fees and boarding fees, but not to nursery schools/nursery classes. VAT will also be chargeable on any payments made after 29 July 2024 in relation to terms starting in 2025. Draft legislation has been published and a technical consultation about the draft legislation is open until 15 September.
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Jul 31, 2024 | 
lexology.com | Isobel D'Inverno |Bob Langridge |Karen Davidson |Alan BaRr |Alan Barr |Neil D Ritchie | +5 more
In a statement to Parliament on Monday 29 July 2024 Rachel Reeves, the Chancellor of the Exchequer, confirmed that her first Budget will be delivered on Wednesday 30 October, and announced a number of significant tax changes.
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Jul 5, 2024 | 
lexology.com | Isobel D'Inverno |Alan BaRr |Alan Barr |Neil D Ritchie |Karen Davidson |Kevin Winters | +1 more
Much has been written over recent weeks about the tax changes included in the manifestos of the various different political parties. Now that the outcome of the election is known, what tax changes can we expect in the months to come and when are they likely to be brought in? No emergency budgetIt seems clear that the new Labour Government will not introduce any immediate tax changes by way of an emergency budget post-election.
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Jun 24, 2024 | 
lexology.com | Isobel D'Inverno |Kirsteen Milne
Click here to watch the videoThe Construction Industry Scheme applies more widely than many people appreciate. This webinar outlined some unexpected aspects of the CIS, as well as discussing recent important changes to the CIS which came into effect from 6 April 2024.
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May 22, 2024 | 
lexology.com | Isobel D'Inverno |Caitlin Wright
The tax sites for the Forth Green Freeport (FGF) have been "designated" with effect from 12 June 2024. This means that, from 12 June 2024, businesses investing in the FGF tax sites will be able to benefit from the various freeport tax reliefs. Where are the tax sites ? A map of the Forth Green Freeport outer boundary is available here.
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Mar 20, 2024 | 
lexology.com | Isobel D'Inverno |Caitlin Wright
Businesses operating in Scotland's two green freeports Inverness and Cromarty Firth Green Freeport (ICFGF) and Forth Green Freeport will be able to benefit from a range of Scottish and UK tax reliefs, including a relief from employer's national insurance contributions (NICs) on the first £25,000 of the salary of new employees working in the green freeport tax sites. Which employers can claim the Freeport NIC relief?
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Mar 15, 2024 | 
lexology.com | Bob Langridge |Isobel D'Inverno |Alan BaRr |Alan Barr
Click here to watch the videoThis session provided an overview and expert analysis of the new ADS legislation which will come in to force from 1 April 2024. The webinar covered:background to the ADS changes;transitional Rules – how the new rules will come in to force;the new 36-month time limits;joint buyers and single economic units; andnew reliefs for inherited properties and separating couples.
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Mar 14, 2024 | 
lexology.com | Isobel D'Inverno
The tax sites for the Inverness and Cromarty Firth Green Freeport (ICFGF) have been "designated" with effect from 8 April 2024. This means that from 8 April 2024, businesses investing in the ICFGF tax sites will be able to benefit from the various freeport tax reliefs. Where are the tax sites ?
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Mar 6, 2024 | 
lexology.com | Karen Davidson |Isobel D'Inverno |Bob Langridge |Alan BaRr |Alan Barr |Neil D Ritchie | +4 more
Here are our top tax takeaways from the UK Spring Budget 2024 delivered today by Chancellor Jeremy Hunt. 1. Phased abolition of non-dom tax status. From 6 April 2025, people who qualify as resident non-doms will avoid being taxed on their foreign income and gains for only four years after their arrival.
