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What tax changes might L-day bring?

20 July is 'L-day' – the day on which the government publishes the first draft of legislation to be included in the finance bill 2022-23.

Tribunal publishes first detailed decision on salaried members rules

The salaried members rules were introduced in 2014 to counter situations where UK limited liability partnerships (LLPs) were avoiding employment taxes by making junior workers members (rather than employees) without bearing the risks, rewards and responsibilities typically associated with partnership. Under the rules, members of an LLP are treated as  employees for tax purposes, unless one of three exclusions apply.

BEPS Pillar Two GloBE Rules

The two-pillar corporate tax reform plan forms part of the OECD's project tackling base erosion and profit shifting (BEPS). Whilst Pillar One – which aims to align taxing rights more closely with the location of customers – will only apply initially to MNEs with annual global turnover above €20bn, Pillar Two is expected to have a wider impact on businesses.

Government fights waste plastics with new tax for non-recycled packaging

In pursuit of its commitment to prevent all avoidable plastic waste by the end of 2042, the UK Government has recently begun to impose a tax on the manufacture and import of significant volumes of plastic packaging which does not contain a minimum amount of recycled content. The aim of the tax is to increase demand for recycled plastics, creating an incentive to collect and recycle plastic waste and divert it away from landfill and incineration.

Spring Statement 2022: Key Tax Announcements

The Chancellor delivered his Spring Statement on 23 March 2022. Mr Sunak attempted to strike the difficult balance between delivering measures which will ameliorate the current cost of living crisis at a time when economic uncertainty and increased security spending as a result of the war in Ukraine is adversely affecting the public purse.

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