The following Tax practice note provides comprehensive and up to date legal information covering:
The Budget is a Parliamentary event at which the Chancellor of the Exchequer makes important announcements relating to the national economy. This includes the government's plans in relation to tax for the following year, and sometimes further ahead. In recent years the majority of the measures that will take effect in the following tax year have been announced and consulted upon in advance. There will also be new announcements on Budget day—some (chiefly anti-avoidance) measures to take effect immediately, and others which will take effect in a future tax year.
The Budget is also the precursor to the introduction of the Finance Bill to Parliament. In most years there is just one Finance Bill, although in some general election years there have been two or even three, as described below.
Income tax and corporation tax are annual taxes, meaning that they can only be charged in a year (a tax year for income tax, or a financial year for corporation tax) for which an Act of Parliament provides that they may be charged. Authorising the government to continue collecting income and corporation tax is arguably the most important function of the Finance Bill, although occupying only a couple of sentences in a Bill that will typically be hundreds of pages long.
VAT and excise duties are permanent taxes, meaning that the government does not need a renewed
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This Practice Note considers the nature and scope of arbitration agreements with a particular focus on arbitration agreements pursuant to the law of England and Wales, although it also discusses the concept from an international perspective and includes some comparative examples from other
What is a res judicata?A res judicata is a decision given by a judge or tribunal with jurisdiction over the cause of action and the parties, which disposes, with finality, of a matter decided so that it cannot be re-litigated by those bound by the judgment, except on appeal.Final judgments by
Millett LJ subdivided types of constructive trust into two categories, distinguishing between:•the constructive trust proper, where equity intervenes to prevent the legal owner from unconscionably denying the beneficial interest of another (known as the institutional constructive trust)•the
This Practice Note considers the doctrine of forum non conveniens, also referred to as the appropriate forum or the proper place for a dispute to be determined. This doctrine is of relevance when determining whether the courts of England and Wales have jurisdiction to hear a dispute and is applied
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