Taxing the digital economy
The Chancellor has announced that the Government plans to introduce a withholding tax on IP royalties paid to low-tax countries where such royalties are connected to UK sales. This withholding tax is intended to have extra-territorial application. To view the whole article click here
Increased limits for investments in knowledge-intensive companies
The Chancellor has announced a doubling of the annual allowance for people investing in knowledge-intensive companies through the Enterprise Investment Scheme (EIS) and the annual investment those companies can receive through EIS and the Venture Capital Trust scheme (VCT). This measure forms part of the government’s response to the Patient Capital Review. To view the whole article click here
Indexation allowance to be frozen
The Government today announced that indexation allowance for corporation tax on capital gains will be frozen from 1 January 2018. To view the whole article click here