HMRC confirmed in sections 3.4.1 and 3.13.1 of Chapter 3: Gift Aid of its guidance notes that it does not consider cryptoassets to be currency or money, so any donation of cryptoassets will not be a qualifying charitable donation and therefore not eligible for Gift Aid. HMRC's guidance says that money can be donated in […]
On Wednesday the 22nd of November, the Chancellor of the Exchequer, the Rt Hon Jeremy Hunt MP, made his Autumn Statement speech. The Autumn Statement package sets out a number of tax measures designed to strengthen economic growth through supporting British businesses and increasing the number of people in work. The statement also announces a […]
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 […]
