Entrepreneurs’ Relief and Goodwill – what did the Autumn Statement say?

 CGT, Corporate Tax, IP Tax  Comments Off on Entrepreneurs’ Relief and Goodwill – what did the Autumn Statement say?
Jan 252015
 

Updated July 2015

This article was updated just days before the Summer Budget which took place on 8 July 2015. It is now the case that a company acquiring a business will no longer be able to claim tax relief on goodwill being amortised in the accounts. This is irrespective of whether the business was acquired from a related party. 

In this article we are going to take a closer look at the new rules which seek to restrict tax relief for goodwill when a business is sold. These restrictions were announced in the recent Autumn Statement,  and have since become law, being incorporated into the first Finance Act of 2015. The new rules  are aimed at individuals or partnerships who decide to incorporate their business. What is striking is that the new rules go further than the mischief that they are intended to counteract. Continue reading »

The Google Tax – Some (Very) Initial Thoughts by Tax Barrister Jolyon Maugham

 International Tax, Tax Avoidance  Comments Off on The Google Tax – Some (Very) Initial Thoughts by Tax Barrister Jolyon Maugham
Dec 152014
 

The following is a guest article written by tax barrister Jolyon Maugham, who also writes for his own tax blog Waiting for Godot. These are Jolyon’s views on the new Diverted Profits Tax (“DPT”, or “Google Tax”) that was introduced in the recent Autumn Statement. Jolyon has kindly agreed to share his initial views on Tax Notes.

Continue reading »