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.

Clear, no-nonsense practice notes take you through what you need to know – with direct links straight to the right part of the trusted tax bibles: Tolley’s Yellow and Orange Tax Handbooks, Simon’s Tax Cases and HMRC’s Manuals. And when you need to delve deeper, direct links to trusted authority, including Simon’s Taxes, Sergeant and Sims on Stamp Taxes, De Voil Indirect Taxes, Tolley’s Tax Annuals, plus articles from Tax Journal and Taxation, in Lexis®Library.

Easy to use, up-to-date, all in one place and always accurate.

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Practice notes
Plant and machinery allowances are the most widely used form of capital allowance. Plant and machinery is often (wrongly) interpreted as if the terms...
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Produced in partnership with Martin Wilson 12th Jan
Practice notes
Brexit: As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...
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Produced in partnership with Martin Shah and Gary Barnett of Simmons & Simmons LLP 12th Jan
Practice notes
It is market practice for a tax covenant, also known as a tax deed, to form part of the transaction documents in respect of a sale of all the shares...
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9th Nov
Practice notes
The reasons why a company might carry out a demerger, and the different ways in which a demerger may be structured, are described in Practice Notes:...
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Produced in partnership with Zoe Feller of Bird & Bird 12th Jan
Practice notes
This Practice Note describes the law and practice relating to elections under section 198 or 199 of the Capital Allowances Act 2001 (CAA 2001), which...
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Produced in partnership with Martin Wilson 12th Jan
Practice notes
It is standard market practice for loan agreements (also known as facility agreements), whether bilateral or syndicated, to:•prohibit a borrower from...
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Produced in partnership with Eloise Walker of Pinsent Masons 12th Jan
Practice notes
Coronavirus (COVID-19): HMRC has stated in its International Manual that if a financial institution cannot meet the FATCA reporting deadline of 31 May...
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Produced in partnership with Ali Kazimi and Chris Orchard of Hansuke Consulting Limited 12th Jan
Practice notes
This Practice Note is about the meaning of a scheme of reconstruction for tax purposes.Tax neutrality is maintained where a company (company A) enters...
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9th Nov
Practice notes
This Practice Note explains:•what a determination in respect of direct tax (ie a direct tax determination) is•when HMRC might issue a direct tax...
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Produced in partnership with Philip Rutherford 12th Jan
Practice notes
A damages or compensation payment may attract VAT. This depends on exactly what the payment is for. If it is purely compensatory, it will be outside...
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9th Nov
Practice notes
The Enterprise Investment Scheme (EIS) is designed to encourage investment in smaller, higher-risk trading companies by offering a range of tax...
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9th Nov
Practice notes
The regime for property authorised investment funds (PAIFs, or as HMRC use in regulations and their published guidance, Property AIFs)) was introduced...
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Produced in partnership with Martin Shah of Simmons & Simmons LLP based on material originally written by Charles Goddard of Rosetta Tax LLP 12th Jan
Practice notes
The value shifting rules are anti-avoidance provisions. They are similar to the rules applying to depreciatory transactions in that they target the...
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9th Nov
Precedents
1 Withholding and grossing up 1.1 All sums payable under this [Agreement] by or on behalf of any party (for the...
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9th Nov
Practice notes
A management buyout, or MBO, involves the acquisition of a business by its existing management team usually with the help of private equity financing....
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9th Nov
Practice notes
This Practice Note:•explains:◦the purpose of the tax indemnity clause that is normally found in a loan agreement, and◦that the standard drafting of...
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9th Nov

Most recent Tax content

Practice notes
STOP PRESS (9/11/20): On 30 October 2020, HMRC published 11 guidance notes giving further details of eligibility for the Job Support Scheme (JSS) and...
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19th Jan
Practice notes
ARCHIVED: This archived Practice Note is not maintained and is for background information only.UPDATE (5/11/20):The Chancellor of the Exchequer, Rishi...
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19th Jan
Practice notes
UPDATE (15/12/20): On 24 November 2020, the Treasury Direction in relation to the third SEISS grant (SEISS 3) was published, and the related HMRC...
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19th Jan
Practice notes
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
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Produced in partnership with Martin Shah and Gary Barnett of Simmons & Simmons LLP 19th Jan
Practice notes
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
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Produced in partnership with Martin Shah and Gary Barnett of Simmons & Simmons LLP 19th Jan
Practice notes
It is common knowledge that value added tax (VAT) is a tax which increases the price of goods and services that consumers in the UK buy. For a tax...
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19th Jan
Practice notes
A long-term incentive plan (LTIP) is a term that is commonly used among listed companies to describe executive share plans under which a company makes...
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Produced in partnership with Jeremy Edwards of Baker McKenzie 19th Jan
Practice notes
This Practice Note considers the ‘flexible furloughing’, revised version of the Coronavirus Job Retention Scheme (CJRS) that applied between 1 July...
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19th Jan
Practice notes
This Practice Notice focuses on the two segments of the UK listing regime (standard and premium). It details the general listing requirements (for...
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19th Jan
Practice notes
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
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19th Jan
Practice notes
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
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Produced in partnership with Darren Oswick of Simmons & Simmons 19th Jan
Practice notes
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
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Produced in partnership with Emily Clark of Travers Smith 19th Jan
Practice notes
A 'non-reporting offshore fund' is any offshore fund which does not have reporting fund status for a particular period of account.For more on what an...
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Produced in partnership with Michael Alliston 19th Jan
Practice notes
A transaction must have five elements for UK VAT to be chargeable. It must:•be a supply of goods or a supply of services•be a taxable supply•take...
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19th Jan
Practice notes
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
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19th Jan
Practice notes
Since A-day (6 April 2006), the main elements of the UK tax regime applicable to employees and other individuals who are members of overseas pension...
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19th Jan
Practice notes
As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an...
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Produced in partnership with JJ Shaw of Lewis Silkin LLP, Alex Kelham of Lewis Silkin LLP and Rob Meredith CTA of PKF Francis Clark 19th Jan
Precedents
this declaration of trust is made on [insert date on which this declaration of trust is executed] by: [[insert name of transferor of shares] of...
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18th Jan
Practice notes
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
Read More >
18th Jan
Practice notes
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
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18th Jan

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