Managing the Global Mobility Function 2012: Now Available
Tag Archive
United Kingdom: HMRC Warns About Renewed Tax Rebate Phishing
Fraudulent attempts to obtain personal details of U.K. taxpayers have been the subject of several reports in our Flash International Executive Alert newsletters. HM Revenue & Customs (HMRC) in the U.K., this week, has issued a further warning to taxpayers not to respond to e-mail scams which have been sent following the recent U.K.... »
UK: Get Ready for Payroll Changes
The U.K. government’s plans for employers to file “Real Time Information” (RTI) of tax and social security withheld from employees have become further clarified through the publication of several new documents regarding RTI. HMRC published summary responses to the second stage of consultation and provided details of some further changes to the original proposals... »
United Kingdom: Auto-Enrolment of Employees into U.K. Pension Schemes
Starting from October 2012, employers must automatically enrol employees who work or ordinarily work in the U.K. into a pension scheme, with a minimum level of contributions.1 The scheme may be either the employer’s own “qualifying scheme” or the U.K. government’s new National Employment Savings Trust (NEST). As the U.K. government enters the final... »
U.S. IRS Issues Guidance on Creditability of U.K.’s Remittance Basis Charge
On August 11, 2011, the U.S. Internal Revenue Service (IRS) issued Rev. Rul. 2011-19, which provides that a foreign tax credit is allowable for U.S. tax purposes for the Remittance Basis Charge (RBC) of £30,000 paid by certain individuals who elect the remittance basis of taxation in the United Kingdom. However, a credit will... »
UK: Updates on PAYE, Disguised Remuneration
The Finance Act 2011 received Royal Assent in the U.K. on Tuesday, 19 July 2011. The Finance Act introduces new legislation with new tax charging provisions in respect of employment income provided through third parties, also referred to as “disguised remuneration.” These rules are very detailed and introduce new Pay As You Earn (PAYE)... »
UK: People’s Republic of China Tax Treaty Signed
Her Majesty’s Revenue & Customs (HMRC) in the United Kingdom has announced that a new income tax treaty between the U.K. and the People’s Republic of China (PRC) was signed in London on 27 June 20111. »
UK Government Seeks Views on Integration of Income Tax and NIC
On 11 July 2011, the U.K. government published a consultation document on HM Treasury’s Web site1 concerning the wider issues connected with the merger of income tax and National Insurance Contributions (NICs). »
UK: Disguised Remuneration Update- Revised FAQs Published by HMRC
HM Revenue and Customs (HMRC) published a third version of frequently asked questions (“FAQs”) on 5 July 2011, relating to the U.K. draft legislation published under the title “Employment income provided through third parties” and commonly referred to as “Disguised Remuneration.” In a previous article, we explained that the draft legislation in its original form,... »
UK and Court Case on Tax Residence
The Tuczka case (Tuczka v HMRC UKUT 113 (TCC)) involved the question of ordinary residence in the United Kingdom. Individuals can be regarded as U.K resident and ordinarily resident (ROR) or resident but not ordinarily resident (RNOR). As we explained in the aforementioned report, the distinction is important because, with one exception (i.e., of... »
UK and New Program for Withholding Changes
The U.K. government has confirmed that a pilot program launching the eventual phased implementation of Real Time Information (RTI) will go ahead in April 2012. The proposal to collect Real Time Information (RTI) was announced in the U.K. government’s Emergency Budget speech on 22 June 2010. The U.K. tax authority, HM Revenue and Customs (HMRC),... »