Income Tax Reporting and the Digital Era

Making Tax Digital (“MTD”) for Income Tax has been talked about for many years now. The idea that the tax return process can be completed by third parties providing all relevant information to HMRC is still a long way off, but it is the direction HMRC are heading. A pre-populated tax return sounds like a great solution and is what HMRC hope to achieve but there are lots of moving parts.

Is there a penalty in getting your claim for R&D Tax Relief Wrong?

At this time when many companies are looking for some additional cash, far more have been looking at R&D tax relief and being more open to consider whether their activities qualify as innovative enough to justify a claim.

The Scottish Public Sector – What next after the Scottish Elections?

Against the backdrop of a post-Brexit and post-Pandemic landscape, the 2021 Scottish Elections have taken on a very different emphasis. Looking at the manifestos of the five main political parties, not unsurprisingly, in addition to the inevitable consideration of Scotland’s Future; “Recovery” and “Rebuild” are the key themes. I have considered these manifestos from the viewpoint of their impact on the Scottish Public Sector. 

Deals+ Energy Deals Done in the UK Q1 2021

As featured in Energy Voice, Anderson Anderson & Brown Corporate Finance ("AABcf") is delighted to share with you our quarterly Deals+ update for Q1 2021, highlighting selected Energy M&A and Fundraising transactions across the UK.

One third of Scottish taxpayers are unaware of tax changes made by the Scottish Parliament

6 April 2021 signalled the start of another new tax year. Perhaps an appropriate time therefore to reflect on a recent review of awareness amongst Scottish taxpayers which found that 33% of those surveyed were unaware that the Scottish Parliament had made changes to the tax system since 2015, with a more worrying 26% completely unaware that the Scottish Parliament had powers to make changes to income tax rates in Scotland. This has resulted in professional bodies calling on Scotland’s political parties to improve awareness of devolved taxes.

Reverse Charge for Construction Services – Some early complexities

Following the introduction of the domestic reverse charge for construction services on 1 March 2021, many construction businesses will be preparing their first VAT returns under the new regime. From our experience of advising construction clients, what appears to be a simple change is throwing up significant challenges for businesses. 

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