Update – Will Investment Funds be taxed at the same 18% rate as Corporates?

 Authorised Investment Funds, Corporate Tax, Investment Tax  Comments Off on Update – Will Investment Funds be taxed at the same 18% rate as Corporates?
Aug 052015
 

I can’t believe it. I’ve received a response to my email to HMRC enquiring what will happen to the tax rate for retail investment funds when the corporate rates are coming down to 18%.

Someone thinks I’m important at last! (Now if only The Times Money section will admit their VCT error).

The answer is a nice straightforward – “They may be. Then again, they may not.” Continue reading »

Corporate Tax rates are coming down to 18% – will the investment funds in your pension still be taxed at 20%?

 Authorised Investment Funds, Corporate Tax, Investment Tax  Comments Off on Corporate Tax rates are coming down to 18% – will the investment funds in your pension still be taxed at 20%?
Jul 312015
 

For years, retail investment funds have been subject to corporation tax at a special rate of 20% – special, because for a long time, the main corporate rate was 30% or more. But recently, corporate rates have been gradually coming down, till at last, this summer we are told that the main rate will eventually go down to 18% by 2020.

But what about authorised investment funds? Are they to be included in the new bonanza for corporates? Or will they continue to be taxed at the same 20% rate?

(This article can be downloaded in pdf format at Academia.edu)

Continue reading »

Jul 102015
 

I recently attended a conference at the Said Business School in Oxford, “celebrating” Fifty Years of Corporation Tax in the UK. Yes, that’s right, fifty years have passed since a special tax was introduced for companies. No, it doesn’t mean they weren’t paying any tax before, they just paid a different tax – what that tax was called I couldn’t possibly tell you, since I wasn’t in practise at the time.

This was the first tax conference I’d been to for a very long time. The last time was in 2003 in London, one of those conferences organised for tax practitioners by IBC or whatever they call themselves these days. This conference was held in Oxford – the first time I’ve attended the Said Business School, which I’ve passed on a number of occasions, since I live locally, and sometimes go day tripping to the City of Spires. Continue reading »