How to tax interest paid by public service pensions schemes
[ad_1] HMRC has provided guidance on the tax treatment of interest paid under the public service pensions remedy. If this article is supporting your professional development, it can count towards your verifiable CPD hours. Use the pop up at the bottom right corner of your screen to add reading this article as an activity to […]
HMRC publishes pension schemes newsletter
[ad_1] HMRC has provided an update on the abolition of the lifetime allowance, as well as information on relief at source and pensions for retained firefighters. HMRC has published the Pension schemes newsletter 155. It provides an update on a range of issues, including the abolition of the lifetime allowance (LTA) and how the pension […]
Consultation on share incentive schemes
[ad_1] HM Treasury is consulting on the non-discretionary tax-advantaged employee share schemes save as you earn (SAYE) and share incentive plan (SIP). The Treasury’s objectives for this call for evidence are to seek views, gather evidence on the current usage of these all-employee schemes, and determine whether they are effective in achieving their stated policy […]
ICAEW highlights uncertainty in tax on environmental schemes
[ad_1] Responding to HMRC’s consultation on environmental land management schemes and ecosystem service markets, the Tax Faculty emphasises that any tax reliefs or incentives must be part of a coherent wider strategy. In ICAEW REP 55/23, ICAEW’s Tax Faculty notes that there is a lot of uncertainty regarding the application of existing tax rules to […]
VAT provisions for drink deposit return schemes
[ad_1] Government publishes draft legislation detailing how VAT will be accounted for under statutory deposit schemes. With Scotland’s deposit return scheme being launched on 16 August 2023, the UK government has asked for feedback on its proposals for the VAT treatment of these schemes. Under the proposals, the deposit amount will be excluded from the […]
ICAEW responds to proposed merger of R&D schemes
[ad_1] The government has suggested merging the two research and development (R&D) tax relief schemes to reduce complexity and mitigate fraud, while seeking to improve efficiencies in generating investment. HM Treasury’s consultation on R&D relief seeks views on the consolidation of the SME research and development (R&D) scheme and the research and development expenditure credit […]