The following Tax practice note produced in partnership with Charles Goddard of Rosetta Tax provides comprehensive and up to date legal information covering:
This Practice Note looks at what constitutes a UK permanent establishment (PE) in the context of a trade of dealing in property. Prior to 5 July 2016 a company that traded in UK property, but which was not UK tax resident, could be subject to UK corporation tax on the profits of that trade if the trade was carried on in the UK through a PE. Whether or not a company had a PE was therefore extremely important.
From and including 5 July 2016 a company which trades or deals in UK property is subject to corporation tax in respect of profits 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. These rules were introduced to prevent non-UK resident developers from avoiding UK tax on the profits of a development by basing themselves in a jurisdiction whose double tax treaty with the UK:
did not provide that a building site was a PE, and
provided that residents of that territory should not be taxed on business profits arising in the UK unless there was a PE
For more detail on these rules see Practice Note: Profits from trading in and developing UK land (transactions in UK land).
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Coronavirus (COVID-19): This Practice Note contains guidance on subjects potentially impacted by the government’s response to the COVID-19 outbreak. For updates on key developments and related practical guidance on the implications for lawyers, see Practice Note: Coronavirus (COVID-19)—implications
Multilateral Trading Facilities (MTFs)BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. Following IP completion day, key transitional arrangements come to an end and
Capital allowances on property sales—pre-contract enquiriesThis Practice Note is about capital allowance-related pre-contract enquiries on a property transfer. It applies to the grant of a new property interest (eg a lease) as well as to the acquisition of an existing lease or freehold.For clauses
Involuntary manslaughterInvoluntary manslaughter—introductionManslaughter can be classified as either voluntary or involuntary. Voluntary manslaughter consists of those killings which would be murder (because the accused has the relevant mental element—hence the label voluntary manslaughter) but
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