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In her budget to restore economic stability, Rachel Reeves raised Capital Gains Tax rates and restricted key Inheritance Tax reliefs.

Read our full commentary and analysis to see how the Budget will affect your business.

The latest updates from the Spring Budget 2024 and its impact on individuals, employers and businesses.

Ahead of this year’s Autumn Statement, the Chancellor noted that tax cuts will be ‘virtually impossible’ given the current state of the UK economy and the country’s current debt levels.

It seems we have been talking about Northern Ireland taking control of its own Corporation Tax regime for years - if not decades. The view is so often espoused that lowering the rate alone could represent the ‘golden ticket’ that would unlock the potential of this place as a destination for international investment.

Every day thousands of people cross the border between Northern Ireland and the Republic of Ireland for work.

In a bid to reduce the current budget deficit, the government are introducing widespread changes across a range of taxes that will unfortunately see a reduction in the post-tax profits and take home pay of corporate and individual taxpayers in general.

As a business owner, it is useful to know the potential benefits of significant capital investment before committing. Appraisal of the tax impact regarding such an investment is often not initially considered, despite its potential impact on a project’s viability.

As the 2021/22 tax year-end is almost upon us, now is a good time to consider relevant tax planning opportunities to reduce your overall tax burden

The last decade has seen large multinationals making the headlines regarding the amount of corporation tax they pay, or don’t pay, but how have recent global tax announcements changed the landscape of international tax?

With all the challenges presented by both Brexit and the coronavirus pandemic, the UK Budget announced back in Spring 2021, has received little press attention.

While 2022 will see the implementation of ‘Making Tax Digital’, it seems like a long time ago that HMRC outlined their original roadmap, with the ambition that these changes ‘will transform the tax system, so that it is more effective, more efficient and easier for taxpayers’.

From 6 April 2021 new rules were introduced for medium and large companies in the private sector, which shifted the responsibility for deciding if the existing ‘off-payroll working’ (IR35) rules applied to each worker.

When it comes to tax relief on capital expenditure, the devil is in the detail – not all types of expenditure are going to be eligible for tax relief in the same way. If your company is planning to make a capital investment, you may be considering whether to invest in brand new or second hand machinery, as well as asking the crucial question: how can I maximise tax relief?

In our April 2020 Tax newsletter we look at: COVID-19 tax issues and support, Budget summary, Changes to reporting and paying Capital Gains Tax on UK residential property disposals; and 2019/20 Self Assessment.

This issue: Brexit – what happens next for businesses, New corporation tax rules for non-resident landlords, EU VAT ‘quick fixes’ to ease international trade, Irish budget 2020, Quarterly instalment payments for ‘very large’ companies, Making Tax Digital (MTD) for VAT – further changes and Growth through Research & Development (R&D) investment.