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Budget 2021: UK corporation tax increase

Recent press reports have speculated that the Chancellor, Rishi Sunak, is set to increase the main rate of UK corporation tax rate (currently 19%), with some reports predicting a sharp rise to 25%. 

Budget 2021: Employee share plans and the road to recovery

Whatever the Chancellor announces in his forthcoming Budget, employee share plans will continue to play an important role as companies move forward from the Covid-19 pandemic. The tax-advantages that share-based awards can enjoy are a key feature, however, equally important is the impact that share-ownership can have on boosting employee morale, motivation and aligning their interests with other investors.

Budget 2021: Considering the changing landscape of tax compliance and enforcement

With the number of articles speculating on a potential increase in corporation tax or CGT rates, or the implementation of a wealth tax, it is easy to overlook possible changes to the tax compliance and enforcement landscape. However, given the number of new measures announced in the past year as part of the fiscal stimulus package to support the economy, and a tax gap of 4.7% of tax liabilities, it is also likely that the government will continue the development of its proposals to tackle tax evasion, tax avoidance and tax non-compliance.

Why are UK businesses restricting deliveries of goods to Northern Ireland?

The story behind the headline...

Since the end of the transition period on 31 December 2020, there have been numerous reports of businesses struggling to deliver goods and even halting deliveries to customers in Northern Ireland. Why is Northern Ireland in this difficult position despite remaining a part of the UK following Brexit? Laura Hodgson, Knowledge Counsel, discusses the newly in force Northern Ireland Protocol, agreed as part of the Withdrawal Agreement in 2019, and the VAT and custom duty charges on goods entering Northern Ireland from other parts of the UK.

Budget 2021: When is a tax rise not a tax rise?

Raising tax and the Triple Lock

With recent press reports that the Chancellor, Rishi Sunak, is going to stick with the Conservative manifesto 'triple lock' pledge you may be wondering how he might raise tax at next month's Budget without actually raising tax rates.

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