Weekly tax highlights ― 16 September 2024

Produced by a Tolley Owner-Managed Businesses expert

Owner-Managed Businesses

Guidance

Direct taxes

Multinational Top-up Tax and Domestic Top-up Tax ― further HMRC draft guidance

HMRC has published further draft guidance on Multinational Top-up Tax and Domestic Top-up Tax. This release of the draft HMRC guidance manual includes all previously released pages (including updates in some cases) in addition to newly drafted pages.

HMRC invites comments from stakeholders and publication of the manual will begin following the review of consultation responses.

A supplementary release of draft guidance will follow in due course. This will include remaining draft guidance on flow-through entities, joint ventures, the insurance sector, additional top-up amounts, and the undertaxed profits rule (UTPR).

The consultation closes on 23 October 2024.

This guidance collection has also been updated to include a link to the consultation and a new section ‘Report Pillar 2 top-up taxes’.

See Simon’s Taxes D4.302, D4.320.

The Research and Development Relief (Information Requirements etc) Regulations 2024, SI 2024/950

These Regulations amend the Relief for Research and Development (Content of Claim Notifications, Additional Information Requirements and Miscellaneous Amendments) Regulations 2023 (SI 2023/813)

This content is no longer in use on Tolley+™ Guidance

To view our latest tax guidance content,
sign in to Tolley+™ Guidance or register for a free trial.

Existing user? Sign-in TAKE A FREE TRIAL TAKE A FREE TRIAL

Popular Articles

Trusts and Inheritance Tax

Payments to trust beneficiaries

Payments to trust beneficiariesThis guidance note considers the trustees powers to make payments and whether the payment made is income or capital.This guidance note is designed to give outline and background for accountants and tax advisers who deal with clients establishing trusts. It is not

14 Jul 2020 12:52 | Produced by Tolley Read more

Employment Tax

Income tax paid on behalf of employee

Income tax paid on behalf of employeeIntroductionEmployers may wish to make payments of employment income to an employee / director without the employee suffering a tax or NIC cost on that pay. In other words, the employer wants to pay an amount net of tax and NIC. In some instances, often with

14 Jul 2020 11:58 | Produced by Tolley in association with Paul Tew Read more

Value Added Tax

Holding companies ― VAT status of activities

Holding companies ― VAT status of activitiesThis guidance note examines how to determine the VAT status of a holding company’s activities. In particular, it looks at:•when a holding company is or is not in business•if a holding company is in business, whether its activities are exempt or taxableThe

14 Jul 2020 17:13 | Produced by Tolley Read more

��Ƶ