“IR35” – it could almost be mistaken for a character from the latest Star Wars film, and whilst IR35 is not a new concept, it will be hitting the private sector in 2021*. If your business currently engages consultants or contractors operating as part of a personal service company, this is a premiere that you …
Tag: tax
Stamp Duty Land Tax Filing Period
The Stamp Duty Land Tax (Administration) (Amendment) Regulations 2018 have amended the time limit for filing an SDLT return and for paying SDLT due in respect of a land transaction. The time period has been reduced from 30 days to 14 days and will be effective from 1 March 2019.
Chancellor’s Autumn Statement introduces increased SDLT rates for second homes and buy-to-let properties
From 1 April 2016, higher rates of SDLT (Stamp Duty Land Tax) will apply to the purchase of second homes and buy-to-let properties where the chargeable consideration exceeds £40,000 – as announced in the Chancellor’s Autumn Statement. What are the higher rates? The higher rates will be 3% above the current SDLT rates for residential property. …
Permanent Non-Dom Tax Status Abolished – New Deemed Domicile Rules
The dictionary definition of domicile is a place of residence. Legally, broadly speaking, it is an individual’s permanent home. The concept has applications in all areas of law, such as marriage, wills and succession. It is also widely used to determine an individual’s liability to various taxes in the UK. Domicile can be determined in …