Category: Taxation

What do you know about Corporate Intangibles Tax Treatment   Corporate intangibles tax treatment The corporate tax treatment essentially follows the treatment of intangibles in the accounts. There are, however, restrictions on the deductibility of debts about goodwill and other customer-related intangible assets depending on…

New VAT Penalties regime   Penalties for late payment and interest harmonisation For VAT taxpayers from periods starting on or after 1 January 2023. For taxpayers in Income Tax Self-Assessment (ITSA), from the tax year beginning 6 April 2024 for…

DOES HMRC have ‘too much power’ or not enough? The taxes collected by HMRC – £584.5bn in 2020-21 – run the UK and, as such, the right amounts must be managed. To this end, HMRC has myriad powers to review…