Category Archives: Budget – October 2018

The World Intellectual Property Organization has recently suggested that one third of the value of the products that consumers buy is derived from intangibles such as technology and branding. With the growing importance and value of intangibles in mind, coupled with the government’s suggestion that technology will be one of the key drivers for the … Continue reading Budget 2018: Reform of the UK corporation tax intangibles regime

On 29 October 2018, Phillip Hammond, the Chancellor of the Exchequer, announced in his Budget that the UK will be pressing ahead with a unilateral Digital Services Tax (“DST”) from April 2020, subject to an appropriate international measure being in place. The DST will be chargeable at a rate of 2% on those revenues of … Continue reading New UK Digital Services Tax

The Finance Bill 2018-19 will introduce UK tax currently at 20% on income from intangible property held in low-tax jurisdictions to the extent that the income is referable to UK sales. This measure will come into effect from 6 April 2019. The UK tax will be levied on relevant gross income realised by non-UK resident … Continue reading UK Tax on Offshore Intangibles

The Chancellor has announced a number of changes in respect of the right to claim Entrepreneurs’ Relief (ER) in yesterday’s Budget. For disposals on or after 6 April 2019, the minimum period throughout which the qualifying conditions for ER must be met will be extended from 12 months to 24 months. Furthermore, in addition to … Continue reading Budget 2018: Entrepreneurs’ Relief – holding period for disposal of “relevant EMI shares”

In yesterday’s Budget, the Chancellor introduced a number of changes to Entrepreneurs’ Relief which may have immediate, significant and expensive implications for anyone who is hoping to qualify for the relief. The most significant change is the addition of a 5% economic ownership test but the requisite ownership period was also doubled from 12 months … Continue reading Budget 2018: Changes to Entrepreneurs’ Relief