articles: International Tax

Moore Stephens appoints Ken Almand as new Transfer Pricing Partner

Moore Stephens, is pleased to announce that Ken Almand has been appointed as Transfer Pricing Partner within our Business Tax practice in London. Ken Almand joins from RSM, where he was Head of Transfer Pricing for six years. Ken specialises in helping international corporations manage their global tax obligations, transfer pricing strategies and compliance responsibilities.

Paying royalties to non-residents

Currently, UK companies paying royalties to persons overseas have to deduct tax at 20% if the royalties relate to a patent or are ‘pure income profit’ (rather than part of the profits of a trade). Under provisions included in the Finance Bill currently before Parliament, from 28 June 2016 the obligation to deduct tax is extended to any royalty, or other payment for the use of (or for the right to use) intellectual property.