Taxation

Tax group demands VAT simplification of food and drink rules

VAT rules for food and drink in the UK are “overly complex” and in need of reform, the Association of Taxation Technicians (ATT) has claimed. Chancellor Rishi Sunak used his Spring Budget to scrap the so-called ‘tampon tax’ when the Brexit transition period ends on 1 January 2021. The ATT hopes the decision to abolish …

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Inheritance tax planning in 2020/21

Inheritance tax planning in 2020/21 What to consider during the COVID-19 lockdown. Coronavirus has many people reflecting on their own mortality. So if you have more time on your hands during the lockdown, planning your estate may be a wise way to spend it. Benjamin Franklin observed there are only two certainties in life: death …

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R&D tax credits in practice

The UK tax system is complicated but research and development (R&D) tax credits can be especially tricky to understand. That’s partly because what counts as R&D, and what amounts to true innovation, is judged on a case-by-case basis against criteria that can seem almost abstract. For example, to qualify as R&D for tax purposes, your …

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