Charles Goddard

Charles is a solicitor at Rosetta Tax Limited, which specialises in corporate tax advice to businesses and professional services firms. He has a broad range of tax advisory expertise, having acted for a variety of UK-based and international financial institutions and listed companies. He has particular expertise in the real estate and finance sectors, with a strong focus on the taxation of insolvency and restructuring transactions.

Charles was for six years until 2012 a tax partner at Berwin Leighton Paisner LLP. Prior to joining BLP, he spent eight years at Slaughter and May as a trainee and associate in their Tax group. He is recommended by both Chambers and Partners and Legal 500.
Contributed to

20

Claiming relief under a double tax treaty in relation to income or gains from UK real estate
Practice Note

This Practice Note looks at the requirements for foreign investors claiming relief under a typical double tax treaty in relation to income from, and gains on sale of, a UK property. This Practice Note was produced in partnership with Charles Goddard of Rosetta Tax LLP.

Direct tax treatment of leases—assignments, surrenders and variations
Practice Note

This Practice Note considers the direct tax treatment for both tenants and landlords of lease surrenders, assignments and variations. It also considers the application of CGT reliefs to transactions involving leases. This Practice Note is produced in partnership with Charles Goddard of Rosetta Tax.

Direct tax treatment of leases—grant of a lease
Practice Note

This Practice Note considers the direct tax treatment of the grant of a lease, for both the landlord and the tenant. It focuses primarily on the lease premium rules under which capital receipts are taxed in part as income and considers the tax treatment of reverse premiums. This Practice Note was produced in partnership with Charles Goddard of Rosetta Tax.

Direct tax treatment of overage
Practice Note

This Practice Note considers what constitutes overage in a real estate transaction and how it is taxed from a direct tax perspective. This Practice Note is produced in partnership with Charles Goddard of Rosetta Tax.

Property developers—direct taxation of trading in UK property
Practice Note

This Practice Note sets out when a property developer will be treated for tax purposes as trading in, or investing in, property in the context of a commercial, residential and mixed use development. It also outlines key features of the charge to UK corporation tax and income tax on trading profits in a property context, commenting on the deductibility of financing expenses and the use of offshore structures. This Practice Note is produced in partnership with Charles Goddard of Rosetta Tax.

Property holding structures—direct tax and stamp taxes treatment of a non-UK company
Practice Note

This Practice Note looks at the direct tax and stamp tax treatment of a non-UK company used as a structure for holding UK property. It considers the distinction between trading and investment and the tax treatment of each activity. This Practice Note is produced in partnership with Charles Goddard of Rosetta Tax.

Property holding structures—direct tax treatment of contractual joint ownership
Practice Note

This Practice Note considers the more common forms of contractual joint ownership of UK property, their respective direct tax treatments and the tax implications for the contracting parties. This Practice Note is produced in partnership with Charles Goddard of Rosetta Tax.

Property holding structures—direct tax treatment of UK company
Practice Note

This Practice Note looks at the direct tax treatment of a UK company used as a structure for holding UK property. It considers the distinction between trading and investment and considers the tax treatment of each activity. The Practice Note then sets out the principal reliefs available in respect of investment, including treatment as a UK REIT. This Practice Note is produced in partnership with Charles Goddard of Rosetta Tax.

Real estate—anti-avoidance: disposals of land and taxing capital gains as income (pre 5 July 2016) [Archived]
Practice Note

ARCHIVED: This Practice Note has been archived and is not maintained. This Practice Note examines the anti-avoidance measure for transactions in land, which was designed to charge to tax as income gains of a capital nature arising from transactions in or concerning land. The anti-avoidance measure examined in this Practice Note was replaced and extended by the offshore property developer rules which were introduced by Finance Act 2016 with effect from 5 July 2016. This Practice Note was produced in partnership with Charles Goddard of Rosetta Tax LLP.

Real estate—anti-avoidance: sale and leasebacks, taxing lease receipts as income and general anti-avoidance rules
Practice Note

This Practice Note looks at the anti-avoidance measures designed to target avoidance of tax on income, profits or gains in relation to land. These include measures targeting specific types of real estate transactions, as well as rules applicable more generally such as anti-avoidance case-law and the Ramsay principle, and the DOTAS, GAAR and diverted profits tax rules. This Practice Note was produced in partnership with Charles Goddard of Rosetta Tax.

SDLT chargeable consideration
Practice Note

This Practice Note looks at the meaning of chargeable consideration, which determines the amount of stamp duty land tax (SDLT) payable on a chargeable transaction. Chargeable consideration includes money and money’s worth, as well as additional defined categories such as the satisfaction, release or assumption of certain debts, the carrying out of works and any value added tax (VAT) payable on the supply of land. This Practice Note also considers how to treat contingent, uncertain or unascertained consideration for SDLT purposes. This Practice Note is produced in partnership with Charles Goddard of Rosetta Tax Limited.

UK source interest in a property context
Practice Note

This Practice Note focuses on the circumstances in which withholding tax obligations arise in relation to interest payments made in a real estate context. It also provides a brief overview of the rules on interest deductibility for corporation tax and income tax payers investing or dealing in UK real estate. This Practice Note was produced in partnership with Charles Goddard of Rosetta Tax.

What constitutes a UK permanent establishment in a property context?
Practice Note

This Practice Note considers what constitutes a UK permanent establishment in the context of a trade of dealing in property and, in particular, when a building site or property agent will be a PE of a non-UK resident company. From and including 5 July 2016 a company which trades or deals in UK property is subject to corporation tax in respect of that trade whether or not the trade is carried on through a PE under the rules relating to profits from trading in and developing UK land. This Practice Note was produced in partnership with Charles Goddard of Rosetta Tax.

Other work

Property holding structures—direct tax treatment of a UK limited liability partnership

This Practice Note looks at the direct tax treatment of a UK limited liability partnership (LLP) and of its members, specifically where the LLP is used as a structure for holding UK property. The Practice Note then considers typical situations in a real estate context where LLPs are commonly used. This Practice Note is produced in partnership with Charles Goddard of Rosetta Tax.

Property holding structures—direct tax treatment of a UK limited partnership

This Practice Note looks at the direct tax treatment of a UK limited partnership (LP), and of the partners in an LP, specifically where the LP is used as a structure for holding UK property. This Practice Note then considers typical situations in a real estate context where LPs are commonly used. This Practice Note was produced in partnership with Charles Goddard of Rosetta Tax.

UK real estate investment trusts (REITs)—summary

This Practice Note broadly outlines the rules applicable to UK real estate investment trusts (UK REITs). It provides a summary of the whole regime. It briefly considers the intention behind the UK REIT regime, what a UK REIT is, the conditions for the UK REIT regime to apply, as well as the taxation treatment of the UK REIT itself and its investors. This Practice Note was produced in partnership with Martin Shah of Simmons & Simmons LLP based on material originally written by Charles Goddard of Rosetta Tax LLP.

UK REITs—anti-avoidance

This Practice Note considers the principal anti-avoidance rules included in the tax code for real estate investment trusts (UK REITs). It also examines the provisions, having anti-avoidance effect, that are triggered in certain certain circumstance involving development properties, a breach of the holder of excessive rights (or corporate ownership) or interest cover tests, and an early exit from ther UK REIT regime. These rules are in addition to the conditions and tests that need to be satisfied for entry to, and continued application of, the UK REIT regime. This Practice Note was produced in partnership with Martin Shah of Simmons & Simmons LLP based on material originally written by Charles Goddard of Rosetta Tax LLP..

UK REITs—breach of the conditions and exit

This Practice Note sets out the various consequences arising as a result of a UK real estate investment trust (UK REIT) failing, or ceasing to meet, the conditions or tests required to join, and maintain membership of, the UK’s REIT regime. The note covers circumstances in which a UK REIT can be automatically expelled from the regime. It considers the circumstances in which notification of a breach is required and the different implications of breaching the various different conditions and tests. The note examines the impact of multiple breaches and discusses the different possible ways a company can exit the UK REIT regime, both voluntarily and involuntarily by notice. Finally, it considers the tax effects arise as a result of exiting the UK REIT regime. This Practice Note was produced in partnership with Martin Shah of Simmons & Simmons LLP based on material originally written by Charles Goddard of Rosetta Tax LLP.

UK REITs—groups and joint ventures

This Practice Note considers the particular requirements for a group of companies to qualify as a UK group REIT and the tax treatment of the UK group REIT. It also considers the ways in which a UK REIT may make an indirect investment in property and the corresponding tax treatments which may apply, including, in particular through a joint venture company (JVco).The note examines the conditions and test that need to be satisfied and the tax impact on both the JVco and the UK REIT. This Practice Note was produced in partnership with Martin Shah of Simmons & Simmons LLP based on material originally written by Charles Goddard of Rosetta Tax LLP.

UK REITs—taxation of the REIT and shareholders

This Practice Note examines the tax treatment of a UK real estate investment trust (REIT), the tax treatment of its shareholders, and the requirement imposed on the UK REIT to withhold UK tax from certain distributions to those shareholders. This Practice Note was produced in partnership with Martin Shah of Simmons & Simmons LLP based on material originally written by Charles Goddard of Rosetta Tax LLP.

Practice areas

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