Two weeks to 29 November 2019
Welcome to our latest update on recent developments in international and treasury tax of interest to multinationals operating in the UK.
Non-resident landlords transition to corporation tax
Non-UK tax resident companies are currently subject to UK income tax on UK property rental income (either through withholding or by direct assessment) unless the income is in relation to a UK permanent establishment through which they are also carrying on a trade. From 6 April 2020, all non-UK tax resident companies which carry on a UK property business will be brought within the scope of corporation tax in respect of the profits of that business. Read more.
We continue to update our material, so you can follow how Brexit is now expected to unfold and identify what you should be doing to prepare:
Total Tax Contribution 2019 - UK’s largest companies continue to invest in the economy
The findings of the 2019 Total Tax Contribution survey highlight the significant tax and wider economic contribution made by the UK’s largest listed companies, known as the 100 Group, for 2018-19.