Articles

There is no ‘silver bullet’ for Northern Ireland businesses in how they can navigate the challenges posed by the recent tariff turbulence. However, it is crucial that they are agile, strategic, and proactive in managing risk within an increasingly uncertain trade environment.

Non-Domiciled Tax Changes: UK to abolish remittance basis in 2025. New rules on Income, Capital Gains, and Inheritance Tax. Plan now for major impacts on foreign assets.

The Trader Support Service, an initiative established by HMRC to aid and counsel businesses engaged in the transportation of goods between Great Britain and Northern Ireland, has been prolonged until December 2024.

Northern Ireland’s commercial property market continued at pace in 2022, with £330 million of investment across 36 transactions, according to CBRE NI. Therefore, the importance of getting the VAT treatment on the sale of commercial property correct cannot be overstated.

The New Year brings a new penalty regime for VAT, replacing the existing VAT default surcharge regime starting with VAT periods starting on or after 1 January 2023. The new regime aims to create fairer results for taxpayers and this should be well-received by taxpayers, as there was a risk the VAT default surcharge regime could result in significant penalties being issued by HM Revenue & Customs (HMRC) for minor errors in comparison with other taxes.