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 […]

From 1 April 2016 a supplemental 3% stamp duty land tax (SDLT) charge applies to purchases of additional residential dwellings in England and Northern Ireland. The legislation is contained in Sch. 4ZA of Finance Act 2003 (FA 2003). The charge applies to acquisitions made by companies, or non-natural persons, unless the chargeable consideration paid is […]

Many UK taxpayers in the last few months have surprisingly found in their mailbox a letter from HMRC about “Your Overseas Assets, Income or Gains” in which they were informed that HMRC has obtained information from overseas tax authorities about assets held by them in foreign jurisdictions on which they may have a UK tax […]

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 […]