On the heels of a taxpayer victory last year, another aircraft owner has successfully challenged Maine Revenue Services’ imposition of use tax on private aircraft that land in Maine.  In Mile High Air, LLC v. State Tax Assessor, the State Tax Assessor assessed Maine’s 5% use tax on an aircraft that landed in Maine for brief periods during its first year of ownership, and also received repair work at a Maine location.  The aircraft, however, was […]

Introduction
This briefing note contains comparisons of the rates of tax affecting two types of business structure for a typical UK trading or professional business with UK resident owners and employees. It does not cover situations involving special types of activity that can attract particular tax rates (for example where the bank payroll tax or debt cap restrictions apply for corporates), nor the availability of loss reliefs to offset taxable profits (for example group relief […]