About Tax Law
In corporate tax, there’s no hiding. An opinion won’t cut it, unless it’s backed up by authority. And in such a complex, ever-changing area there’s no room for mistakes.
VAT
Content written by the author of the leading textbook in this area and includes several sector specific Practice Notes. It links directly to Tolley’s Orange Tax Handbook, Tax Journal and key text De Voil.
Finance
Excellent practical content for loans, derivatives and debt capital markets. The content links directly to Tolley’s Yellow Tax Handbook, Simon’s Taxes, Tolley annuals, Tax Journal and key text Ghosh Johnson and Miller.
Taxes management and litigation
This is an area where many people find themselves a bit at sea. Our content is practical, detailed and covers the major issues in dealing with a tax enquiry or dispute.
Trusted tax tests
When you need to delve deeper, Lexis+® Tax links you to trusted tax texts, including Tolley’s Yellow and Orange Tax Handbooks, Simon’s Taxes, Sergeant and Sims, De Voil, Tax Journal and Taxation.
Topics We Cover
Latest Tax News
Tax analysis: In Re Waldorf, the High Court sanctioned (ie approved) the company’s restructuring plan under Part 26A of the Companies Act 2006,...
This week's edition of Tax weekly highlights includes: (1) a new online tool and updated guidance on mandatory registration of tax advisers, (2)...
Tax analysis: In Herrmann v HMRC, the First-Tier Tax Tribunal (FTT) allowed the taxpayer’s appeal against late payment penalties and surcharges,...
Tax analysis: In Take 3.9 TV Partnership and others v HMRC , the First-Tier Tax Tribunal (FTT) allowed in part the appeals of five film partnerships,...
Tax analysis: In HC-One No 1 Ltd, the First-tier Tax Tribunal (FTT) allowed the appellant’s appeal, holding that the members’ voluntary liquidation of...
Latest Tax Practice Notes
FORTHCOMING CHANGE: call for evidence on tax support for entrepreneurs: At Budget 2025, the government published a call for evidence on the impact of...
FORTHCOMING CHANGE: call for evidence on tax support for entrepreneurs: At Budget 2025, the government published a call for evidence on the impact of...
FORTHCOMING CHANGE: call for evidence on tax support for entrepreneurs: At Budget 2025, the government published a call for evidence on the impact of...
Like the enterprise investment scheme (EIS), the venture capital trust (VCT) regime is designed to encourage investment in smaller, higher-risk...
FORTHCOMING CHANGE relating to penalty reform calls for evidence and behavioural penalties reform: At Budget 2025, the government published a summary...
Latest Tax Precedents
This Agreement is made on [insert day and month] 20[insert year]Parties1[Insert name of selling corporate shareholder] incorporated in [England and...
This Loan Note Instrument is made on [insert day and month] 20[insert year]by1[insert name of offeror], incorporated in England and Wales under number...
This Agreement is made on [insert day and month] 20[insert year]Parties1[insert name of selling corporate entity] a company incorporated in [England...
This [Deed OR Agreement] dated [•] 20[•] is madeParties1[insert name], a company incorporated in England and Wales with registered number [insert...
[insert date of letter]This document summarises certain changes to the contractual terms and conditions of employment between [insert name of...
Latest Tax Q&As
Featured Tax content
VAT treatment of damages and compensation payments
VAT treatment of damages and compensation paymentsA damages or compensation payment may attract VAT. This depends on exactly what the payment is for....
The double taxation treaty passport scheme (DTTP scheme)
The double taxation treaty passport scheme (DTTP scheme)The double taxation treaty passport scheme (DTTP scheme) enables a borrower to apply for and...
What are capital allowances and capital expenditure?
What are capital allowances and capital expenditure?What are capital allowances?Capital allowances are the means by which tax relief is given for some...
If the words ‘exclusive of VAT’ are omitted from the definition of annual rent, but there is a VAT clause stating: ‘Where this lease requires the tenant to pay or provide any amount in respect of a VAT supply to the tenant...that amount will be deemed to be exclusive of VAT...and the tenant shall pay a sum equal to that VAT’, will this be sufficient to charge the tenant VAT? Is there any case law in this area?
Direct tax treatment of damages and compensation payments
Direct tax treatment of damages and compensation paymentsWhere a dispute is brought to an end by a payment of damages or compensation, whether under a...
Residential service charges—VAT implications
Residential service charges—VAT implicationsThis Practice Note is about the VAT treatment of residential service charges.Service charges payable to...
Commercial service charges—VAT implications
Commercial service charges—VAT implicationsThis Practice Note is about the VAT treatment of non-residential service charges. General positionService...
Taxation of UK LLPs
Taxation of UK LLPsA UK limited liability partnership (LLP) is a body corporate for company law purposes, but is generally taxed as though it were a...
Qualifying charitable donations and excess management expenses
Qualifying charitable donations and excess management expensesAll companies within the charge to corporation tax can deduct qualifying charitable...
Amortisation of intangible fixed assets
Amortisation of intangible fixed assetsWhere a company acquires (or otherwise incurs capitalised expenditure upon) an intangible fixed asset that...
The Budget and Finance Bill process
The Budget and Finance Bill processThe Budget is a Parliamentary event at which the Chancellor of the Exchequer makes important announcements relating...
Tax treatment of reorganisations of share capital
Tax treatment of reorganisations of share capitalThis Practice Note is about the meaning of a reorganisation for tax purposes, and the tax treatment...
Capital gains—intra-group asset transfers
Capital gains—intra-group asset transfersCompanies which form a group for capital gains purposes are able to transfer assets to one another free of...
VAT treatment of intermediaries, agents and disbursements
VAT treatment of intermediaries, agents and disbursementsFor VAT purposes, an intermediary is a person who makes arrangements for, or facilitates, a...
Taxation of private equity funds—the investors
How are investors in a private equity fund taxed on their share of the profits?This Practice Note sets out how the investors in a typical UK private...
Tax and offshore funds—what is an offshore fund?
Taxation of offshore funds—what is an offshore fund?Background to the offshore funds rulesSpecific tax legislation dealing with offshore funds was...
Partnerships and capital gains
Partnerships and capital gainsThis Practice Note is about the capital gains tax and corporation tax on chargeable gains treatment of UK general...
Tax considerations on a loan agreement—the tax gross up clause
Tax considerations on a loan agreement—the tax gross up clauseIt is standard market practice for loan agreements (also known as facility agreements),...
Associated legal terms
Fund as a whole' model
A carried interest economic model that looks at the fund as a whole and references the fund's profits over its lifetime. Where this approach is taken, the waterfall is applied by reference to the whole fund so the fund is likely to include a catch-up mechanism. The waterfall moves on to the catch-up (if any) and carried interest only after the investors have received back all of their drawn-down capital and the necessary preferred return. The 'fund as a whole' type of economic model is more common in the UK and Europe and is in contrast to the ‘deal-by-deal‘model.
Repo
An arrangement which involves the sale of securities and the subsequent purchase of those or similar securities and which equates, in substance, to a transaction for the lending of money at interest from or to a company with the securities which were sold as collateral for the loan.
Stamp Duty Land Tax
Stamp duty land tax is chargeable on land transactions, which are acquisitions of chargeable interests, ie legal or equitable interests in land located in the England and Northern Ireland, for chargeable consideration. The equivalent tax in Scotland is ‘land and buildings transaction tax’ and in Wales is ‘land transaction tax’.
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