Period to 5 October 2017
Welcome to our latest update on recent developments in international and treasury tax of interest to multinationals operating in the UK.
Corporation tax in Northern Ireland - House of Commons briefing paper
In March 2015 Parliament passed the Corporation Tax (Northern Ireland) Act 2015 which, subject to commencement regulations, will devolve corporation tax rate setting powers to the Northern Ireland Assembly. The Government has committed to commencing the regime if the NI Executive demonstrates its finances are on a sustainable footing. The NI Executive has publicly indicated its intention for the regime to begin in April 2018, and that the rate will be set at 12.5%. This note discusses the development of the Government’s policy and the wider debate over corporate tax competition.
Webcast: Corporate Criminal Offences
Corporations can now be prosecuted if they fail to prevent staff from criminally facilitating tax evasion. Watch a recording of our recent webcast on the two new corporate criminal offences which recently came into effect. See also HMRC press release on this topic.
Are you one of the SME’s missing out on innovation incentives?
HM Revenue & Customs (HMRC) has released its annual statistics regarding Research & Development (R&D) credits and Patent Box claims, which make for interesting reading!
