Legal News

Tax weekly highlights—24 January 2019

Published on: 24 January 2019
Published by: LexisPSL
  • Tax weekly highlights—24 January 2019
  • In this issue:
  • Companies and corporation tax
  • Upper Tribunal considers double taxation issues for financial dealers buying partnership interests (HMRC v Investec Asset Finance PLC and Investec Bank PLC)
  • Anti-avoidance
  • Value shifting and the residual charge to income tax (Adrian Kerrison v HMRC)
  • Finance Bill 2019
  • Remaining House of Lords stages scheduled for 7 February 2019
  • VAT
  • UT allows Tesco Clubcard scheme VAT recovery (HMRC v Tesco)
  • More...

Article summary

This week’s edition of Tax highlights includes: (1) the Upper Tribunal’s decision in Investec where it considered double taxation issues for financial dealers buying partnership interests, (2) the Upper Tribunal’s decision in Kerrison that a tax planning scheme designed to create a capital loss failed as a result of a purposive interpretation of the value shifting rules, but no additional liability was imposed under the residual charge to income tax, and (3) the First-tier Tax Tribunal’s decision in W Resources that a parent company which had provided management services to two newly acquired subsidiaries, under the condition that they would not be invoiced until they generated income, had not carried on an economic activity up to that point. or take a trial to read the full analysis.

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