The aim of this page is to provide useful monthly updates on current UK tax matters that impact asset managers and underlying investee companies. 

We hope to supplement these briefings with quarterly “Asset Managers Breakfast Briefing” seminars from June 2020 onwards, with the initial seminars taking place virtually. 

Please reach out to us if you have any questions regarding the content of these briefings or if there is anything else we can help you with.

If you would like more information on international tax matters, click here.

BRIEFINGS:

Volume 28: January 2022 
In the January edition of the Scotland Asset Manager Briefing Note, we introduce new team member at A&M Tax – Johanna Wright, Assistant Director, discuss self-assessment tax filing deadline on 31st January 2023  and provide an update on the Scottish Budget 2023 to 2024.

Volume 27: November 2022 
In the November edition of the Scotland Asset Manager Briefing Note, we introduce new team member at A&M Tax – Lewis McMillan, Analyst, discuss the UK Autumn Statement 2022 and provide an update on the UK Qualifying Asset Holding Companies Regime.

Volume 26: October 2022 
In the October edition of the Scotland Asset Manager Briefing Note, we introduce new team members at A&M Tax – Lewis Whitehill, Associate and Graeme Connell, Senior Director, highlight the recent salaried member rules’ case, BlueCrest Capital Management (UK) LLP v HMRC and discuss the UK Mini-Budget 2022.

Volume 25: July 2022 
In the July edition of the Scotland Asset Manager Briefing Note, we discuss HM Treasury’s response to the ‘Review of the UK Funds Regime: A Call for Input’, highlight the new tax regime for Qualifying Asset Holding Companies – update, provide an Employment Related Securities reporting reminder for 6 July 2022 and offer a Second self-assessment payment on account reminder for 31 July 2022.

Volume 24: June 2022 
In the June edition of the Scotland Asset Manager Briefing Note, we discuss HMRC’s communications to Limited Liability Partnerships (LLP’s) on the Salaried Member rules, highlight Luxembourg’s new Double Tax Treaty with the UK, provide an Employment Related Securities reporting reminder for 6 July 2022 and offer a Second self-assessment payment on account reminder for 31 July 2022.

Volume 23: May 2022 
In the May edition of the Scotland Asset manager briefing note, we provide an Employment Related Securities reporting reminder for 6 July 2022, give a Reward & Employment Tax update and host a guest article, “The Banking Problem” from Douglas Graham, Finance Director of NCM Fund Services Limited.

Volume 22: April 2022 
In the April edition of the Scotland Asset manager briefing note, we introduce Mìcheal Callan, Analyst at A&M Tax team in Glasgow, provide the key highlights from the UK Spring Statement 2022, an update on the UK’s Qualifying Asset Holding Companies Regime and an Employment Related Securities reporting reminder.

Volume 21: March 2022 
In the March edition of the Scotland Asset manager briefing note, we introduce Ryan Farr, Analyst at A&M Tax team in Glasgow, provide insights into personal tax year end considerations for individual Fund Executives and updates on HM Treasury’s “Review of the UK funds regime: a call for input.

Volume 20: January / February 2022
In the January / Febrauary edition of the Scotland Asset Manager briefing note we introduce Luke Cheng, Assistant Director at A&M Tax, provide an overview of the HMRC updated guidance on carried interest and the Self Assessment deadline on 31st January 2022.

Volume 19: November / December 2021 
In the November/ December edition of the Scotland Asset manager briefing note, we introduce Rachel Brown, Analyst to A&M Tax team in Glasgow, provide an overview of; the autumn budget and spending review 2021; closure of the Coronavirus Job Retention Scheme. 

Volume 18: October 2021
In the October edition of the Scotland Asset Manager briefing note we introduce Monica Houston, Manager at A&M Tax, provide an update on the start date for Making Tax Digital for Income Tax and Self-Assessment, and share the Non-Executive Director Fees in the FTSE 350 and FTSE SmallCap report.

Volume 17: September 2021
In the September edition of the Scotland Asset Manager Briefing Note, we introduce Lucy Hardman, Director at A&M Tax, share details of the U.K. Government announcement on a new Health and Social Care Levy and provide a guest article by Ellis Wilson: Financial Conduct Authority forecasts stormy weather for Regulatory Umbrellas. 

Volume 16: August 2021
In the August edition of the Scotland Asset Manager Briefing Note, we provide an overview of the proposed changes to basis periods for Income Tax, an update on the HMRC's Family Investment Company team, and a reminder for the second self-assessment payment on account for 31 July 2021. 

Volume 15: July 2021
In the July edition of the Scotland Asset Manager Briefing Note, we introduce new joiner Rachael Kieran, Manager and provide reminders for the second self-assessment payment on account for 31 July 2021 and Employment Related Securities ("ERS") reporting for 6 July 2021. 

Volume 14: June 2021
In the June edition of the Scotland Asset Manager Briefing Note, we introduce the new A&M Tax Manchester Team led by Senior Director, Nick Walton, share the guest blog written by Kathleen McLeay, CEO at NCM Fund Services Limited, and provide a reminder for Employment Related Securities ("ERS") reporting for 6 July 2021.

Volume 13: May 2021
In the May edition of the Scotland Asset Manager Briefing Note, we provide an overview of the A&M London Virtual Asset Manager Roundtable on 12 May, U.K. commentary on recent U.S. tax changes and provide a reminder for Employment Related Securities ("ERS") reporting for 6 July 2021. 

Volume 12: April 2021
In the April edition of A&M Scotland’s Asset Manager Briefing Note, we provide an introduction to new joiner, James Robertson, Senior Advisor, provide key highlights from UK “Tax Day” on 23 March 2021, a reminder of Employment Related Securities reporting for 6 July and an insight on HM Revenue & Customs Enquiries into the Tax Treatment of Carried Interest.

Volume 11: March 2021
An overview of our Scotland Asset Manager Breakfast Briefing Webinar on 10 March 2021, key highlights from the UK Budget on 3 March 2021 and a guest article from Jon Wilson of Ellis Wilson – What’s Product Governance (“PROD”) got to do with it?

Volume 10: February 2021
An introduction to Anita Eunson, Director at A&M Tax, A&M Scotland Asset Manager Breakfast Briefing on 10th March 2021, A&M’s IR35 – Are You Ready? Webinar on 9th March 2021 and an introduction to A&M’s new Test Employment Status Tool for off-payroll working.

Volume 9: January 2021
Our January briefing note covers a variety of topics including: introduction to Linda Cameron, Manager at A&M Tax; updated HM Revenue and Customs (“HMRC”) guidance: Disguised Investment Management Fee (“DIMF”) and Carried Interest Rules; and a reminder of the self-assessment tax filing deadline on 31st January 2021.; and an overview of HM Treasury’s (“HMT”) Call for input: Review of the UK funds regime.

Volume 8: November 2020
Our November briefing note covers a variety of topics including; A&M Scotland Asset Manager Breakfast Briefing; A&M London Virtual Asset Manager Roundtable; Introduction to Tracey Norton, Senior Director at A&M Tax; and Update: Self-Assessment statements and 31 July 2020 Payment on Account.

Volume 7: October 2020
An introduction to A&M Scotland’s newest team member, A&M Scotland Asset Manager breakfast briefing – 4th November 2020 and postponed autumn budget and call for evidence on Capital Gains Tax (“CGT”). 

Volume 6: September 2020
Introduction to A&M TAX Scotland’s newest team member, guidance on DAC 6 implementation and reporting and the Scottish Government's recent consultation on Scottish taxes.

Volume 5: August 2020
Introduction to A&M TAX Scotland’s newest team members, call for evidence for Capital Gains Tax (CGT) and Pensions tax relief and a Market update from Managing Director, Daniel Parry.

Volume 4: July 2020
Summer Economic Statement highlights, incentivising management teams in uncertain times and the COVID-19 Companies House filing extension.

Volume 3: June 2020
COVID-19 Update on CJRS revisions and ERS reporting reminder for 6 July 2020

Volume 2: May 2020
Debt Investments and the Availability of Tax Loss Relief, COVID-19 Working from Home Tax Reliefs and Exemptions, and Employment Related Securities Reporting

Volume 1: April 2020
Deferrals of Payments on Account, COVID-19 UK Tax Developments, and Key Takeaways from March 2020 Budget

WEBINARS:

Wednesday 24 June 2020
Scotland Asset Manager Breakfast Briefing

Wednesday 04 November 2020
Scotland Asset Manager Breakfast Briefing

Wednesday 10 March 2021
Scotland Asset Manager Breakfast Briefing

CONTACTS:

Daniel Parry
Managing Director
+44 7788 364 778
dparry@alvarezandmarsal.com

Donald Campbell
Managing Director 
+44 7703 123 121
dcampbell@alvarezandmarsal.com

Jordan Brown
Senior Director 
+44 7788 402 732
jordan.brown@alvarezandmarsal.com

Charlotte Walker
Manager 
+44 7884 698 560
cwalker@alvarezandmarsal.com