Specialist Tax Regulatory Materials
The 6 March 2024 Spring Budget announced a further 2 percentage point cut in NICs for employees and the self-employed, although the income tax thresholds remain frozen. The government is also consulting on potential regulation of the tax advice market.
Jurisdiction(s): England, Northern Ireland, Scotland and Wales
Enterprise investment scheme tax reliefOverview of EIS tax reliefsThe enterprise investment scheme (EIS) offers significant tax reliefs to encourage individuals to invest money in qualifying shares issued by qualifying unquoted companies. The scheme is designed to encourage investment in small,
Definition of a close companyThe detailed definition of a close company is set out below, but in summary the rules are targeted at those companies where the owners can manipulate the activities of the company to influence their own tax position. Therefore, broadly speaking, in most cases an
Withholding taxIntroductionUK tax must be withheld on UK payments including:鈥nterest鈥oyalties鈥ental incomeUK withholding tax may be reduced under the provisions of a double tax treaty (DTT). Prior to 1 June 2021, payments of interest and royalties made to EU resident associated companies were
