March 2024 / United Kingdom

8 Marzo 2024

Modifiche alla normativa sulle entità giuridiche nel Regno Unito

A partire da marzo 2024 sono entrate in vigore significative modifiche alla normativa sulle entità giuridiche nel Regno Unito, all'interno del "Economic Crime and Corporate Transparency Act" promulgato il 26 ottobre 2023.

Tali modifiche sono state introdotte con l'obiettivo primario di potenziare la trasparenza aziendale e migliorare la qualità dei dati.

Le principali disposizioni della legge includono:

  • Sede legale: Si richiede alle società di mantenere un "indirizzo appropriato" come sede legale, dove i documenti possono essere validamente notificati e la ricevuta di ritorno può essere registrata.
  • Dichiarazione di scopo legale: Le entità giuridiche devono confermare che la costituzione della società è avvenuta per un fine legittimo, sia durante il processo di costituzione che nella successiva dichiarazione annuale alla Camera di Commercio del Regno Unito.
  • Potenziamento dei poteri di Companies House: L'ufficio del registro delle imprese è dotato di maggiori poteri per contestare informazioni errate o incomplete, con la possibilità di rimuoverle dai registri pubblici. Inoltre, saranno implementati controlli più rigidi sui nomi delle società al fine di evitare confusioni o fuorvianti impressioni al pubblico.
  • Sanzioni: Sono previste sanzioni per le società che non rispettano le richieste del registro o non utilizzano un indirizzo legale appropriato.

Per quanto riguarda le "Dichiarazioni di Conferma”:

  • Indirizzo e-mail registrato: Le società sono tenute a fornire un indirizzo e-mail ufficiale alla Companies House per le comunicazioni ufficiali, mantenendo tale indirizzo riservato.
  • Dichiarazione di liceità delle attività: Le nuove società devono attestare la liceità delle loro attività, mentre le società esistenti devono farlo nella prossima dichiarazione di conferma.

Tali riforme sono finalizzate a promuovere la trasparenza e l'integrità nel contesto degli affari nel Regno Unito.

In caso di ulteriori domande vi invitiamo a inviare una mail a info.uk@diacrongroup.com

20 Marzo 2024

UK minimum wage rates for 2024

The Government has announced the rates of the National Living Wage (NLW) and National Minimum Wage (NMW) which will come into force from April 2024. In doing so, it has accepted in full the recommendations of the Low Pay Commission.

The rates which will apply from 1 April 2024 are as follows:

NMW Rate Increase in pence Percentage increase
National Living Wage (21 and over) £   11.44 £     1.02 9.8%
18-20 Year Old Rate £     8.60 £     1.11 14.8%
16-17 Year Old Rate £     6.40 £     1.12 21.2%
Apprentice Rate £     6.40 £     1.12 21.2%
Accommodation Offset £     9.99 £     0.89 9.8%
  Source: Gov.uk
7 Marzo 2024

UK Spring Budget Would Abolish Tax Regime for Non-Domiciled Individuals

UK's Chancellor of the Exchequer, Jeremy Hunt, presented his 2024 Spring Budget to the House of Commons on 6 March 2024 announcing a significant change in the taxation regime for non-domiciled individuals.

The Chancellor proposed that the present regime, whereby the overseas income and gains of non-domiciled individuals are not subject to UK tax for a period if they are not remitted to the United Kingdom, will be abolished. This will be replaced by a simpler system exempting such receipts for a 4-year period after an individual becomes resident in the UK. There will be transitional arrangements for a 2-year period.

7 Marzo 2024

UK Spring Budget 2024: Tax Reforms and Economic Measures

The UK Chancellor of the Exchequer, Jeremy Hunt, delivered his Spring Budget speech to the House of Commons on 6th March 2024, unveiling a series of pivotal measures outlined below.

Business Taxes

  • The primary rate of Class 1 National Insurance on employees' earnings will be reduced from 10% to 8% from 6 April 2024.
  • The rate of Class 4 National Insurance on the earnings of self-employed individuals and partners will be reduced from 8% to 6% from 6 April 2024.
  • Full expensing – the ability to deduct expenditure in full in the year in which it is incurred – will be extended to leased assets.
  • The income threshold at which a business must register for value added tax (VAT) will increase from GBP 85,000 to GBP 90,000 from 1 April 2024.
  • The furnished holiday letting regime will be abolished with the aim of improving the availability of property for long-term letting.
  • Higher tax reliefs will apply to the cost of producing visual effects in high-end TV and film.
  • Eligible film studios will receive a 40% relief on gross business rates until 2034.
  • A new tax credit will apply to independent British films with a budget of less than GBP 15 million.
  • The audiovisual expenditure credit for film, high-end TV and video games will be increased by 5% and the 80% cap for visual effects costs will be removed.
  • The tax reliefs for theatres, orchestras, museums and galleries will be made permanent at rates of 45% for touring and 40% for non-touring productions.
  • Air passenger duty will be increased on non-economy flights.
  • The energy profits levy will be extended from March 2028 to March 2029 but could be abolished if market prices fall to historic levels sooner than expected.

Individual Income Tax

  • The 28% higher rate of capital gains tax on real property will be reduced to 24%.
  • The child benefit higher income charge – which currently applies to individuals – will be changed to a system based on household income from April 2026. From 2024, the income threshold will rise from GBP 50,000 to GBP 60,000. From that limit, the benefit will be gradually withdrawn at a rate of 1% for every GBP 200 of income up to an upper limit of GBP 80,000.
  • A new individual savings account (ISA) – the "British ISA" – will allow investors to save up to GBP 5,000 a year into UK equities, with the usual ISA tax exemptions. This will be in addition to the existing GBP 20,000 limit for existing ISAs.

Other Taxes

  • Fuel duty remains at its present level for another 12 months.
  • Alcohol duties remain frozen until February 2025.
  • Excise duty will be levied on vaping products from October 2026.
  • Tobacco duty will be increased.
  • The multiple dwellings relief for stamp duty land tax will be abolished.

Budget 2024 documents are available here.

Source: IBFD tax research platform news