United Kingdom

Tax and Pensions 

In a time of change, when it appears that the economy is starting to improve, there are ever increasing tax and compliance burdens facing UK corporates and private individuals.

Wherever you're looking, from cost saving ideas, to optimising your structure, to complying with new legal requirements, KPMG's Tax and Pensions practice can help.

 

 

Image for 2013 Global Benchmarking Survey   

    The third edition is based on 249 respondents from 24 countries and represents a broad range of industries.  The survey shows that Tax Departments are increasingly taking accountability for VAT/GST, yet CFOs continue to view the efficiency and effectiveness of the Tax Department through the lens of Corporate Tax.

 

 

Image for Corporate & Indirect Tax Survey   

 

 

 

Game controller   

    The new creative sector tax relief paves the way for the UK further enhancing its skills, expertise and reputation in this field. It further underlines the government’s commitment to the creative industries. 

 

 

 

   

    The 2011 holding pattern for personal income tax rates is now seeing a return to the 2010 trend of increasing rates with the global average top personal income tax rate going up by 0.3 percent, according to analysis by KPMG International. However, the UK stands out from this global trend with plans to reduce its top rate of personal income tax from 50 percent to 45 percent next April.. 

 

 

 

 

   

    This survey, which assesses the impact of all business taxes including corporate income taxes, capital taxes, sales taxes, property taxes and statutory labor costs, finds that a country's tax competitiveness is strongly related to how taxes are weighted and applied in different jurisdictions. 

 

 

 Wrist watch  

    Compiled by KPMG's Global Energy & Natural Resources tax practice, this edition covers programs in 23 countries with in-depth discussions of recent policy developments in the world's top five renewable energy producing countries. 

RE THINKING Pensions

Pension deficits are proving frustratingly persistent. Markets are running adversely, regulators are providing no respite. Meanwhile employers look to retain cash to strengthen balance sheets. This landscape looks set to pitch Trustees and Employers into battle. But we believe it is time to RE THINK - because Trustee and Employer goals are fundamentally aligned, and there are opportunities for genuine “win-wins”.

  • RE THINKING Pensions

Frontiers in tax - July 2012

Frontiers in tax - July 2012

This edition discusses how legislators are struggling to translate policymakers’ broad prescriptions into detailed rules for a new FS environment.

 

UK Chancellor's Budget 2012

UK Chancellor's Budget 2012

The Chancellor's Budget saw a fall in the top rate of tax, a rise in the personal allowance threshold and a drop in corporation tax. Visit our site for full analysis of all the new measures. 

Wrist watch 

Phasing in from 2012, employers must take responsibility for enrolling all eligible UK employees into a qualifying pension scheme. KPMG Pensions has developed a standard approach to help clients plan for and manage the impact of Auto-enrolment. 

 
The FATCA challenge will remain a significant and complex one for the insurance industry with many products still within scope; but there are nevertheless reasons to be positive.

With the Government keen to raise revenues in order to relieve financial pressures, the focus on tax collection has increased. HMRC is targeting specific trades and professions, such as doctors, restaurants in London, private tutors and e-marketplaces.

 

 

Are you a non dom who would like to bring money into the UK or would like to know more about how the remittance basis rules affect you?

 

Are you thinking about the rules that make individuals UK resident for tax purposes, whether as an individual or as an employer?

 

Real Time Information (RTI) is the most significant change to the PAYE system in its 65 year history.

 
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    Read KPMG's new weekly tax publication which provides tax and finance professionals with an overview of the latest tax developments and forthcoming issues every Monday.

     


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