EMI share option scheme receives state aid approval

Last month, we reported that the Enterprise Management Incentives (EMI) share option scheme lost its EU State Aid approval on 6 April 2018. The consequence of loss of approval being that the tax advantages of such options were temporarily withdrawn. On 16 May 2018,...

Making tax digital delayed further, apart from vat reporting

HMRC have confirmed that no further MTD for business changes will be brought in before 2020 at the earliest. The Treasury set out its revised priorities for current digital transformation projects, to make room for the additional demands on its resources of work to...

Simplification of inheritance tax

The Office of Tax Simplification (OTS) has been tasked with carrying out a review of Inheritance Tax (IHT) with a view to simplifying how the tax operates. IHT is perceived to be complicated and currently yields a relatively small amount of tax compared to income tax...

Smart Contracts

As blockchain technology continues to evolve, we are hearing more and more about so-called “smart contracts”. Smart contracts utilise blockchain technology in order to self-execute. A smart contract is an agreement between two people in the form of computer code. They...

Form P11Ds to include benefits provided by salary sacrifice

Employers need to report all Benefits in Kind (BiKs), including those under the Optional Remuneration Arrangements (OpRAs) or “salary sacrifice” arrangements, to HMRC on form P11D from 6 April 2018, unless they are registered to voluntarily payroll benefits. OpRAs are...