The following Corporation Tax guidance note Produced by Tolley in association with Anne Fairpo provides comprehensive and up to date tax information covering:
Where a UK company receives royalties, the company may suffer withholding tax in the jurisdiction where the payments are made. The level of withholding tax will depend on the jurisdiction (eg the Netherlands has no withholding tax on royalties, regardless of the country to which they are paid) and whether or not there is a tax treaty between the UK and that country. Tax treaties will reduce royalty withholding taxes substantially, often to nil. A claim for treaty benefit will be required to ensure the payment of royalties is made with no / reduced withholding as appropriate. For payments made before 1 January 2021, with
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IntroductionUK tax must be withheld on UK payments including:•interest•royalties•rental incomeWithholding tax may be reduced under double tax treaties (DTT) or European directives, both of which may be subject to making a formal claim.This guidance note outlines the rules for UK withholding tax, and
The majority of state benefits (also called social security benefits) are managed by the Department of Work and Pensions (DWP) via the Jobcentre Plus.Some benefits are dependent on a national insurance contribution record (and different classes of national insurance provide different benefit
Class 1 and Class 1AClass 1 and Class 1A are the categories of NIC that can be charged on expenses reimbursed and benefits provided to employees. These classes are mutually exclusive. A benefit cannot be subject to both Class 1 and Class 1A NIC. Three requirements must be met before Class 1A NIC is
Preparatory workBefore completing the Inheritance Tax account for submission to HMRC, the practitioner needs to undertake a comprehensive review of the extent of the estate and its proposed distribution. The work required leading up to the submission of the account is described in detail in the
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