Potential Changes to Qualifying Costs for Research and Development Tax Relief

Following on from the Spring Budget 2020, the Government has announced that they are now consulting on the eligible expenditure that can be included in Research and Development (“R&D”) tax credit claims. The last formal consultation on the qualifying cost categories for R&D was published in November 2010 and the Government feels that now is the right time to reassess this area of the relief.

Technology - Not just for international clients

As lockdown starts to ease allowing national and international travel to slowly increase, and employers start finalising their plans to open office doors again, there are lots of unknowns around what the ‘norm’ will be for businesses going forward.Will video calls continue to replace face to face client meetings? Will people rush back to working in the office? Although there have been lots of ‘bumps in the road’ for businesses in 2020, providing the best client service for local, national and international clients has remained constant at AAB.

Moving Overseas to Save Tax? This could be more taxing than you think…

After weeks of lockdown, and searching for some much needed escape from COVID news, I came across BBC 2’s latest documentary Inside Monaco: Playground of the Rich”. It allowed for a fascinating insight into this country which has extraordinary wealth, attracting the super rich from across the world.  

Personal Service Companies - Is it time for action?

Chancellor of the Exchequer, Rishi Sunak, has recently implied that Capital Gains Tax (“CGT”) rates will come under increased scrutiny, as the Government attempts to fill the budget deficit caused by the ongoing COVID-19 pandemic. With the Autumn Budget soon approaching, these reforms may now just be a matter of weeks away!

HMRC Nudge Letters for Overseas Income – another batch issued in July 2020

HMRC’s very own “tax gift that just keeps giving”…

Capital Gains Tax - What will be the 'next normal'?

Since March 2020, the UK government has provided significant financial support to families and businesses to help support them through the COVID-19 pandemic. Although the country is not out of the woods yet, the economy is starting to reopen and the big question on everyone’s mind is ‘How will we pay for this?’

Life After Brexit - An amicable split or a bitter divorce?

Midnight on 30 June 2020 has come and gone, and with it, the ability for the Brexit Transitional period to be extended beyond 31 December 2020.  We are now in the final 6 months of the UK’s marriage with Europe, falling just short of celebrating the golden anniversary. 

COVID-19 Travel Restrictions - Impact on Employer PAYE Reporting when NT codes in Operation

Following the tightening of travel restrictions due to COVID-19, many employers have been faced with having employees who would normally work wholly overseas, ending up based in the UK and carrying out their role either from a residential address, hotel or a Company base in the UK.

Working on Windfarms

As the world reduces its reliance on fossil fuels, there becomes an ever-increased demand for energy that is derived from renewable sources. One sector we have seen a significant increase in businesses working in is the offshore windfarm industry including both the operation of windfarms and the provision of services to allow these windfarms to operate. The increase in offshore windfarms is a global theme with many countries moving away from traditional energy sources and looking for a more sustainable supply.

2019/20 PAYE Settlement Agreement Deadline Approaches

A PAYE Settlement Agreement (PSA) is currently an annual agreement made with HMRC, which allows employers to settle the tax and National Insurance (NI) due on small or irregular taxable expenses or benefits provided to employees.  

Getting Value From Benefits

As time goes by and there are attempts to get life back to "normal", many workplaces will find themselves with a real mix of employee work situations. For many, the return to an office or normal place of work can’t come quick enough and for others a sense of anxiety means they are likely to choose working from home for as long as possible. 

Deals+ O&G Deals Done in the UK Q2 2020

As featured in Energy Voice, Anderson Anderson & Brown Corporate Finance (“AABcf”) are delighted to share our quarterly Deals+ update for Q2 2020, highlighting selected Oil & Gas M&A and Fundraising transactions across the UK.

Energy Finance Technology: Adopting new ways of working that challenge the old

The Energy sector today is a constantly changing, evolving and complex landscape.  It is continuously seeking to find an equilibrium in the turbulence of supply and demand, fossil fuels and renewables, and survival and growth.  All of which is underpinned by fierce competition for investment.  

Coronavirus Job Retention Bonus - Further guidance issued

As part of his plan for job retention , Chancellor Rishi Sunak announced that UK employers would receive a one-off bonus of £1,000 (“JRB”) for each furloughed employee who is still employed as of January 31 2021. 

Make Tax Great Again! – Anticipated changes in respect of Making Tax Digital for Income Tax

Discussions have been in place regarding modernising the UK Tax system for several years, with VAT being the first of the UK Taxes to make the move with Making Tax Digital (MTD), rolled out in April 2019 for VAT registered businesses with turnover above the threshold of £85,000. From April 2022 MTD for VAT will be extended to all VAT registered businesses.

Blog 6: Working together to find the solution

This is the final blog in a new series from Alasdair Green, a senior member of the AAB Energy Team and Head of E&P; “Balancing the Green Energy Agenda”. You can read the blog series from the beginning here

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