Specialist Tax Regulatory Materials
The Council of the European Union adopted the decision on the final conclusion of the EU-UK Trade and Cooperation Agreement (TCA) (as well as the Security of Information Agreement (SIA)) on 29 April 2021. With internal EU ratification procedures finalised, the UK will be notified of the outcome, while the agreements and accompanying texts are to be published in the Official Journal of the European Union (OJEU) by 30 April 2021. Both the TCA and SIA will then enter into force on 1 May 2021. Commenting on this development, Laura Rees-Evans of Fietta LLP notes the welcome certainty that ratification of the deal provides.
Jurisdiction(s): England, Northern Ireland, Scotland, Wales and European Union
Double tax reliefWhen income arises in a foreign country to a UK resident company and that income is taxable in that foreign country, the UK may give the company relief for the foreign tax by crediting the foreign tax against the UK tax charged on that income. This might include withholding tax on
Gilts鈥楪ilts鈥� are securities that are also known by a number of different names (eg gilt-edged securities, Government securities or treasury stock).The Government sells gilts to fund the deficit between public spending and tax receipts. Normally, the Government pays interest to the holder of the gilt
Non-business expensesIntroductionIn order for an expense to be tax deductible it must be incurred because of an employee鈥檚 employment. Any non-business related expense is, therefore, not relievable except in some very particular circumstances.This guidance note deals with three separate issues. The
