Until now, royalty payments between UK companies incurred witholding tax at the basic rate of 22%.
Francesca Lagerberg, senior technical manager to the Institute’s Tax Faculty said: ‘We are pleased the chancellor has confirmed what he said in the pre-Budget report.
‘But we are disappointed that he has not taken on board any of the comments about the damaging nature of withholding tax on international transactions, bearing in mind that most intellectual property transactions are not confined to the UK.’
Crowe Clark Whitehill , the top 20 accountancy firm, has announced the promotion of Chris Mould to partner
The latest opinions from Accountancy Age on Making Tax Digital, and outline plans to evolve the UK's corporate governance regime
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy