The following Value Added Tax guidance note Produced by Tolley provides comprehensive and up to date tax information covering:
The following tracker details some of the key events associated with Brexit of both general and specific relevance to the future of indirect taxes. Links to relevant source documents are provided alongside a timeline of key events. At the bottom of this guidance note, links are provided to various articles discussing the impact of Brexit on VAT, customs and other indirect taxes as events have developed.
The timeline below does not generally refer to legislation. For a spreadsheet listing tax-related Brexit legislation, click below:
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IntroductionSubsistence is the amount incurred as a consequence of business travel. Typically it relates to accommodation and meal costs incurred. These amounts are allowed because they are associated with the necessary travel. See the Travel expenses guidance note for more information of when
The basic rule is that all benefits provided to an employee by reason of their employment are taxable unless there is a specific exemption or other rule that means they are not chargeable to tax.ExemptionsThe main exemptions for employee benefits are in ITEPA 2003, ss 227–326B (Pt 4).Below is an
Income and gains may be taxable in more than one country. The UK has three ways of ensuring that the individual does not bear a double burden:1)treaty tax relief may reduce or eliminate the double tax 2)if there is no treaty, the individual can claim ‘unilateral’ relief by deducting the foreign tax
Employee benefit trusts (EBTs) are commonly used to support employees’ share schemes and to provide other benefits to employees in the form of pensions and bonuses.Their use has been significantly affected by the introduction of the disguised remuneration rules. Although the statutory exclusions
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