Specialist Tax Regulatory Materials
Finance Bill 2021 was published on 11 March 2021. The Bill, formally referred to as Finance (No. 2) Bill鈥攁s the second Finance Bill to be introduced in the current Parliamentary session鈥攊s expected to proceed through Parliament with Royal Assent likely before the Parliamentary summer recess in July 2021. Emily Clark, head of Tax, and Cathryn Vanderspar, head of Real Estate Tax at Travers Smith, share their views.
Jurisdiction(s): England, Northern Ireland, Scotland and Wales
SEIS and EIS 鈥� overviewThe seed enterprise investment scheme (SEIS) and enterprise investment scheme (EIS) are very similar schemes which offer substantial tax incentives to investors in companies which qualify. The tax incentives for SEIS and EIS investments are intended to encourage investment in
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
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
