Specialist Tax Regulatory Materials
To coincide with the introduction of plastic packaging tax on 1 April 2022, HMRC has updated its guidance on registration, with new sections added for partnerships and other entities for which the online registration service is not currently available.
Jurisdiction(s): England, Northern Ireland, Scotland and Wales
Substantial shareholding exemption 鈥� overviewThe substantial shareholdings exemption (SSE) provides a complete exemption from the liability to corporation tax on the gains generated from qualifying disposals of shares and interests in shares by qualifying companies. No claim is required. Provided
Repairs and renewalsThe key consideration in determining whether expenditure on repairs and renewals is allowable as a deduction for tax purposes is whether it is capital or revenue in nature. In some cases, it can be relatively straightforward to identify revenue repairs. HMRC provides the
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
