The UK's tax authority has put routine tax compliance checks on hold as a result of the coronavirus pandemic, according to letters being sent by HM Revenue & Customs (HMRC) to some of those currently the subject of an investigation.
The substantial shareholding exemption (SSE) applies to companies and exempts certain gains that would otherwise be subject to UK corporation tax following a disposal of shares.
Most contracts for construction works will include an extension of time mechanism, whereby the contractor will be entitled to an extension of time to the agreed completion date – the date by which the works must be completed – in circumstances where there are delays to a project which are not the contractor’s fault or for which the employer has taken the risk.
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