Autumn Statement and Draft Finance Bill 2014

Our expert insight and opinion on the Autumn Statement 2014

  • We have long been making the case to Government for the introduction of measures aimed at MSBs, the real engine room of GDP growth in the UK economy. The Treasury listened, and have acted.

    Jonathan Riley Head of Tax

    03/12/2014 16:40

  • We welcome the continued business rates cap of 2% and the increased business rates rebate of £1,500 to small businesses.

    Paul Dossett Head of Local Government

    03/12/2014 16:40

  • Given recent proposed changes to the patent box tax relief, it was a shame that the Chancellor made no specific mention of the future of the patent box. However an increase in R&D expenditure credit from 10% to 11% is welcome.

    Dominic Preston Head of Innovation

    03/12/2014 16:16

  • Positive news that the Chancellor echoed our calls for encouraging international expansion with £45m support to first time exporters to new territories. Although could have gone further and introduced an R&D like tax credit.

    Jonathan Riley Head of Tax

    03/12/2014 14:01

  • Some surprise announcements for the property industry including the abolition of the slab system of SDLT for residential property, significantly impacting people across the UK on purchases of the family home.

    Kersten Muller Real Estate Tax Partner

    03/12/2014 16:40

  • It is interesting that the UK is adopting a restriction of banks' use of brought forward tax losses, and raises the question whether this will permit a revision to bank levy policy.

    Richard Milnes Financial Services Tax Partner

    03/12/2014 16:40

  • I am delighted that HMRC have taken the positive step to support MSBs through a gateway to specialist tax help and named individuals when transitioning through a business change.

    Jonathan Riley Head of Tax

    03/12/2014 17:52

Tax Consultation Responses

Our recent response documents to the various consultations raised by HM Revenue & Customs (HMRC) and HM Treasury

Date Published           Title

19 September 2014      Tax-advantaged venture capital schemes: ensuring continued support for small and growing businesses

17 September 2014      Improving operation of Construction Industry Scheme - Consultation Response

15 September 2014      Voluntary payrolling of benefits - consultation response

15 September 2014      Exemption for paid or reimbursed expenses - consultation response

15 September 2014      Trivial benefits exemption - consultation response

15 September 2014      Response to abolition of £8,500 threshold - consultation response

22 July 2014      Direct recovery of debts

30 June 2014      Implementing a capital gains tax charge on non-residents

14 May 2014      Supporting the employee-ownership sector - consultation response

08 May 2014      Theatre tax relief - consultation response

30 April 2014      Bank levy banding approach - consultation response

28 February 2014      Proposed changes to regulations 72E and 72F income Tax (PAYE) regulations 2003 - consultation response

24 February 2014      Tackling marketed tax avoidance - consultation response

13 February 2014      Finance Bill 2014 representations: Artificial use of dual contracts by non-domiciles

04 February 2014      Finance Bill 2014 representations: Measures affecting partnerships

04 February 2014      Finance Bill 2014 representations: BPRA

04 February 2014      Finance Bill 2014 representations: employee ownership trusts

30 January 2014      Draft guidance on Research & Development expenditure - consultation response

23 January 2014      Call for evidence on the taxation of partnerships - consultation response

25 October 2013      Draft legislation to prevent certain claims for transfer pricing compensating adjustments - briefing paper

16 October 2013      Changes to the payment of interest distributions from Authorised Investment Funds - consultation response

02 October 2013      Reform of close company loans to participators rules - consultation response

02 October 2013      Raising the stakes on tax avoidance - consultation response

26 September 2013      Business Premises Renovation Allowances (BPRA) - consultation response

26 September 2013      Supporting the employee-ownership sector - consultation response

05 September 2013      Disclosure of tax avoidance schemes (DOTAS) regime on the confidentiality hallmark - consultation response

29 August 2013      Modernising the taxation of corporate debt and derivative contracts - consultation response

27 August 2013      Disclosure of tax avoidance schemes (DOTAS) regime - confidentiality and employment income hallmarks - consultation response

27 August 2013      Simplifying charges on trusts – consultation response

16 August 2013      Strengthening the Code of Practice on Taxation for Banks - consultation response

14 August 2013      A review of two aspects of the tax rules on partnerships - consultation response

13 May 2013      ISA qualifying investments - consultation response

28 February 2013      Comments on promoting tax compliance and procurement - consultation response

05 February 2013      Finance Bill 2013 draft clauses: R&D - consultation response

23 November 2012      Implementing the UK-US FATCA Agreement - consultation response

16 November 2012      Simplifying share buy-backs - consultation response

08 November 2012      Implementing employee owner status - consultation response

31 October 2012      HMRC Brief 24/12: Sampling basis for capital allowance claims

22 October 2012      The attribution of gains to members of closely controlled non-resident companies - consultation response

15 October 2012      Lifting the lid on tax avoidance schemes - consultation response

05 October 2012      IHT: periodic charges on trusts - consultation response

05 October 2012      Cap on unlimited tax reliefs - consultation response

18 September 2012      Tax advantaged employee share schemes - consultation response

18 September 2012      Enterprise Management Incentives: academics - consultation response

14 September 2012      General anti-abuse rule - consultation response

13 September 2012      Statutory residence test - second consultation response

10 September 2012      Corporation tax reliefs for the creative sector - consultation response

23 August 2012      Ensuring the fair taxation of residential property transactions - consultation response

16 August 2012      Taxation of controlling persons (IR35) - consultation response

16 August 2012      Withdrawing a notice to file a self-assessment form - consultation response

29 June 2012      Consultation on an above the line credit for research and development - consultation response

27 June 2012      Real Estate Investment Trusts - consultation response

22 June 2012      Income tax rules on interest - consultation response

18 May 2012      VAT: addressing borderline anomalies - consultation response

15 February 2012      Patent Box - consultation response

15 February 2012      Enterprise Investment Scheme changes - consultation response

15 February 2012      Controlled Foreign Companies reform - consultation response

15 February 2012      Introduction of the Seed Enterprise Investment Scheme - consultation response

01 December 2011      Disclosure of Tax Avoidance Schemes (DOTAS): Hallmarks - consultation response

05 October 2011      HMRC publishes its summary of responses to the real time information systems for PAYE consultation

05 October 2011      Relief for income tax losses - a consultation

28 September 2011      Tax-advantaged venture capital schemes - consultation response

22 September 2011      Controlled Foreign Companies (CFC) reform - consultation response

16 September 2011      Integrating the operation of PAYE and NIC

16 September 2011      Future relationship between HMRC and the tax agent community - consultation response

12 September 2011      Reform of the taxation of non-domiciled individuals

12 September 2011      Statutory definition of tax residence

08 September 2011      HMRC Consultation Document - The Simplification of Regulatory Powers

01 September 2011      Consultation on the Patent Box - consultation response

30 August 2011      A new incentive for charitable legacies - consultation response

30 August 2011      Consultation on the abolition of 36 tax reliefs

30 August 2011      Consultation on capital allowances for fixtures - consultation response

30 August 2011      Research and Development tax credits: response and further consultation

18 March 2011      Extra statutory concessions - fourth technical consultation on draft legislation

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