On 10 November 2023 the UK and other 47 countires committed to implementing the Crypto-Asset Reporting Framework (CARF) and the amendments to the CRS in a joint statement. The CARF is the new international standard on automatic exchange of information between tax authorities to ensure tax compliance and clamp down on tax evasion. The jusrisdicions […]
Russia has suspended unilateraly all material provisions of many of its Double Taxation Agreements with 38 countries by Presidential decree dated 8 August 2023. The suspension includes the UK-Russia Convention and the treatment of dividends, interest, royalties, capital gains, business profits, employment income and pensions, together with protection against discrimination contained in it. The provision […]
Yesterday, the 15th of March 2023, the Chancellor Jeremy Hunt announced his first full Budget. One of the key themes was boosting economic growth and while he confirmed the 6% increase in the rate of corporation tax, he also mitigated this by replacing the capital allowances “super-deduction” with full expensing, enabling businesses to claim tax relief […]
The Annual Tax on Enveloped Dwellings (ATED) rates payable for chargeable periods beginning on or after 1 April 2023 have been set by the Government as follows: Annual chargeable amount Value of the interest on the relevant day GBP 4,150 More than GBP 500,000 but not more than GBP 1 million GBP 8,450 More than […]
The UK and Italy have agreed on a momentous trade partnership to boost UK exports, help create jobs, increase wages and grow the economy. It’s good to see that the already strong relationship between the two countries has just strengthened even after Brexit. This agreement can only help the UK and Italy facilitate the growth […]
