Specialist Tax Regulatory Materials
HMRC has published a new VAT Brief to explain HMRC鈥檚 response to the primary decision of the Upper Tribunal in the case of Colchester Institute Corporation v The Commissioners for HM Revenue and Customs.
Jurisdiction(s): England, Northern Ireland, Scotland and Wales
Transfer of assets to beneficiaries 鈥� legal, administration and tax issuesThis guidance note outlines how assets are transferred to beneficiaries and the tax consequences that flow from the transfer. Whether a payment is income or capital is discussed in the Payments to trust beneficiaries guidance
Foreign exchange issuesOverview of foreign exchange provisionsForeign exchange (FX) movements are generally taxed following the rules applicable to the underlying income, expenditure, asset or liability on which they arise, broadly as follows:Capital assetsOn a realisation basis (ie on disposal)
Research and development expenditure credit (RDEC)This guidance note provides information on how research and development expenditure credits (RDEC) are calculated and utilised. The Qualifying expenditure for R&D tax relief guidance note provides information on what expenditure qualifies for
