Richard Jones assesses the recently announced tax incentives available for freeports around the UK.
Features and articles
Highlights from the broader tax news week ending 3 February, which includes: a restrained Scottish Budget in light of the coronavirus pandemic and HMRC publishes a Brexit edition of its Agent Update with guidance on postponed VAT accounting.
22 December 2020: Welsh Finance Minister Rebecca Evans has set out plans to spend £22bn in the financial year commencing 1 April 2021.
Highlights from the broader tax news week ending 22 December, which includes: guidance from HMRC on disguised remuneration schemes that avoid tax by selling business revenues to trusts, changes to land transaction tax and Royal Assent of the Taxation (Post-transition Period) Bill 2020.
19 October 2020: ICAEW has suggested that the Welsh government should develop an annual Finance Bill type process to allow it to react quicker to tax changes.
Mike Dalton, Head of Stamp Taxes at Grant Thornton UK, explains the charges that could arise from making revisions to leases.
Bloomsbury Core Accounting and Tax Service
Eligible firms have free access to Bloomsbury Professional's comprehensive online library, comprising more than 60 titles from some of the country's leading tax and accounting subject matter experts. Find out who is eligible and how you can access the Core Accounting and Tax Service.
Tax rates and tables updated in line with the most recent measures taken by the government to combat the COVID-19 pandemic; now including devolved Scottish and Welsh taxes.
A chapter providing an outline of Land and Buildings Transaction Tax (LBTT) in Scotland.
A chapter providing an outline of Land Transaction Tax (LTT), which applies to most transactions over land in Wales from 1 April 2018.
A full chapter providing a practical overview of Welsh income tax.
A full chapter providing a practical overview of Scottish income tax.
Practical advice on stamp taxes, including stamp duty land tax (SDLT) in England or Northern Ireland, land and buildings transaction tax (LBTT) in Scotland and land transaction tax (LTT) in Wales, in relation to incorporating or disincorporating a business.
A response dated 15 October 2020 to a consultation published by the Welsh government on 16 July 2020.
A response dated 6 June 2019 to a consultation published by the Scottish government on 14 March 2019.
Welsh revenue authority charter consultation
Some resources that we link to may pre-date the latest amendments to the relevant tax regulations. While these links contain useful information, please treat them with appropriate caution.
Authority responsible for the management and collection of Scotland's devolved taxes providing guidance on Land and Buildings Transaction Tax, Scottish Landfill Tax, LBTT and leases, and Air Departure Tax.
Official information on devolved taxes in Wales with links to further guidance on and rates for Landfill Disposals Tax, Land Transaction Tax, and income tax.
Information on the devolution of fiscal powers to the Scottish Parliament and the Welsh and Northern Irish Assemblies, including a timeline of milestones and forthcoming changes, and summaries describing the current status of devolved taxes in each region.
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