Brexit: uncertainty begins to bite for digital stakeholders
How much better informed are we when we have the full picture?
While our homegrown technology and digital sectors display bravado against the backdrop of an uncertain future, I wanted to find out what investors and entrepreneurs outside the UK felt had changed since Article 50 was invoked.
Brexit contingency planning alert
Banks, insurers and designated investment firms undertaking cross-border activities between the UK and the rest of the EU need to provide the Prudential Regulation Authority (PRA) with information on their Brexit contingency plans by 14 July.
VAT blow for cultural charities and public bodies
The European Court of Justice (ECJ) has finally crushed hopes that more public bodies and charities engaged in cultural activities could claim VAT exemption on their admission charges. Its recent judgment in the VAT case of the British Film Institute (BFI), released in February, draws a line under an argument that has been running for the last four years.
Breaking news for non UK domiciliaries
The changes to the taxation of non UK domiciliaries which were to apply from 6 April 2017, have been dropped from the Finance Bill due to a shortage of Parliamentary time in advance of the General Election. When the clauses were dropped, it was announced that they will be brought forward in a Finance Bill as soon as is practicable after the election. It is not clear whether this will be through a further Finance Bill after the election (and potentially backdated in effect to 6 April 2017) or postponed to 6 April 2018.
This could have serious implications for anyone who undertook restructuring prior to the introduction of the new rules, particularly if they are not reintroduced in their current form.
techUK announces mid-sized business drive with a new mentoring series
techUK, in association with GTM Global and Moore Stephens will be running two, free mentoring workshops, as it looks to widen its support to mid-sized technology focused businesses that are looking to expand overseas.
Top 5 R&D myths for shipping and offshore maritime companies
Moore Stephens’ specialist Innovation & Technology team successfully manage R&D claims for many clients in the sector. The team comprises engineers, software programmers and scientists, as well as specialist finance professionals such as auditors and tax accountants all of whom are experienced in claiming R&D tax relief.
Proposals for a public register of foreign ownership of UK property
The UK’s Government Department for Business, Energy & Industrial Strategy (BEIS) has published detailed proposals for a public register of foreign ownership of property.
Shipping pools: don't just dive in
Ship owners and operators need to carefully check the financial, taxation and jurisdictional implications of participating in shipping pool arrangements.
Time to tighten your anti-money laundering defences
By 26 June 2017, all European Union member states are required to have enacted the Fourth Money Laundering Directive (4MLD) into national law. 4MLD aims to give effect to the updated Financial Action Task Force (“FATF”) standards. With this in mind Firms need to make sure their policies, procedures, systems and controls are up to scratch.
Businesses save record amount in corporation tax through Patent Box scheme
The amount saved by businesses through the Patent Box tax break increased 17% last year to a record high of £875m*, up from £750m the year before, with Brexit providing an opportunity to make the tax break even more effective.