Trackers

Trackers

Key UK tax rates, thresholds and allowances

This Practice Note provides a summary of the following current UK tax rates, thresholds and allowances: corporation tax, income tax, National Insurance contributions (NICs), pay as you earn (PAYE), capital gains tax (CGT), VAT, insurance premium tax (IPT), stamp duty, stamp duty reserve tax (SDRT), stamp duty land tax (SDLT), land and buildings transaction tax (LBTT), land transaction tax (LTT), annual tax on enveloped dwellings (ATED), UK withholding on yearly interest, and oil and gas tax. It also sets out relevant rates of interest, such as HMRC’s rates as well as the Bank of England official bank rate of interest.

The full tracker is available here: Key UK tax rates, thresholds and allowances.

Key dates for tax lawyers: 2024 and beyond

This Practice Note contains a list of key dates for tax lawyers in 2024 and beyond and is updated on an ongoing basis.

The full tracker is available here: Key dates for tax lawyers: 2024 and beyond.

Tax case tracker

This case tracker displays the current status and most recent developments of key tax cases being appealed

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Latest Tax News

Tax weekly highlights—21 November 2024

This week's edition of Tax weekly highlights includes: (1) the Supreme Court decision in Refinitiv concerning the interaction between the diverted profits tax and an advance pricing agreement, and (2) the Supreme Court decision in Cobalt Data Centre on the scope of the enterprise zone allowance.

UT finds FTT made errors when setting aside HMRC best judgment assessment (HMRC v Sintra Global)

Tax analysis: In Sintra Global, the Upper Tribunal (UT) set aside the decision of the First-tier Tax Tribunal (FTT) insofar as it related to a notice HMRC had issued to an individual making him liable for the payment of a civil evasion penalty charged against a company he was a director of. The UT found that the FTT had failed to follow the guidance provided by the Court of Appeal in Pegasus Birds in relation to the assessment the penalty was based on.

Supreme Court rules on the scope and limitations of the enterprise zone tax incentive (R (oao Cobalt Data Centre) v HMRC)

The Supreme Court unanimously dismissed the taxpayers’ argument that the relevant expenditure fell within section 298(1) of the Capital Allowances Act 2001 (CAA 2001) and concluded that, based on the proper interpretation of that provision, the expenditure was not incurred under a contract executed prior to the conclusion of the initial ten-year period, as required. Adam Craggs, partner at RPC, discusses the implications that the judgment has on taxpayers going forward.

Consultation on expanding tax conditionality to new sectors

Environment analysis: On 30 October 2024, HM Revenue and Customs (HMRC) issued a consultation on ‘Tackling the hidden economy: expanding tax conditionality to new sectors’. The consultation runs to 21 January 2025. Angus Evers, partner at Shoosmiths, comments on the consultation.