Budgets and Finance Bills

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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 9th Nov
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 Gary Barnett, Martin Shah and Simmons & Simmons 9th Nov
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 9th Nov
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 9th Nov
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 9th Nov
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 9th Nov
Practice notes
Where a dispute is brought to an end by a payment of damages or compensation, whether under a court order or an out-of-court settlement agreement:•the...
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9th Nov
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
Overdrafts, term loans and revolving credit facilitiesThree common types of loan facility are:•overdrafts•term loans, and•revolving credit facilities...
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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 9th Nov
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
The international movement of capital rules should be considered whenever:•any non-UK tax resident subsidiary (referred to in this note as a foreign...
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9th Nov

Most recent Budgets and Finance Bills content

Practice notes
This Practice Note contains information on Finance Act 2019 (FA 2019) which received Royal Assent on 12 February 2019. It is being retained for...
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29th Nov
Practice notes
ARCHIVED: This Practice Note has been archived and is not maintained.This Practice Note contains information on Finance Act 2016 (FA 2016) which...
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29th Nov
Practice notes
ARCHIVED: This Practice Note has been archived and is not maintained.This Practice Note contains information on Finance Act 2015 (FA 2015) which...
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29th Nov
Practice notes
This Practice Note contains information on Finance (No 2) Act 2015 (F(No 2)A 2015) which received Royal Assent on 18 November 2015. It is being...
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29th Nov
Practice notes
The Budget is a Parliamentary event at which the Chancellor of the Exchequer makes important announcements relating to the national economy. This...
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29th Nov
Q&As
First, the extension of the (employee and employer) Class 1 National Insurance contributions (NICs) charge to all PILONs, whether contractual or...
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29th Nov
Q&As
Finance Bill 2017 (FB 2017) contains a major adjustment to IR35 so that where a public sector body engages a worker through a personal service company...
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29th Nov
Practice notes
This Practice Note contains information on the Finance Bill 2021 (FB 2021), detailing its progress through Parliament to Royal Assent and describing...
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25th Nov
Practice notes
This Practice Note draws together content on the fiscal events throughout the tax year 2020-21 starting with the publication of draft provisions for...
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12th Nov
Practice notes
This Practice Note contains information on the Finance Act 2020 (FA 2020) which received Royal Assent on 22 July 2020. It is being retained for...
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1st Oct
Practice notes
This Practice Note draws together content on the fiscal events throughout the tax year 2019–20 starting with the release of draft provisions for...
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1st Oct
Practice notes
ARCHIVED: This Practice Note has been archived and is not maintained. This Practice Note draws together content on the fiscal events throughout the...
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26th Sep
Practice notes
ARCHIVED: This Practice Note has been archived and is not maintained.This Practice Note contains information on Finance Act 2014 (FA 2014) which...
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26th Sep
Practice notes
ARCHIVED: This Practice Note has been archived and is not maintained.This Practice Note contains information on Finance Act 2018 (FA 2018) which...
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26th Sep
Practice notes
ARCHIVED: This Practice Note has been archived and is not maintained.This Practice Note draws together analysis on the key milestones of the 2015/16...
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26th Sep
Practice notes
ARCHIVED: This Practice Note has been archived and is not maintained.This Practice Note contains information on Finance (No 2) Act 2017 (F(No 2)A...
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26th Sep
Practice notes
ARCHIVED: This Practice Note has been archived and is not maintained.This Practice Note draws together analysis on the key milestones of the 2014/15...
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26th Sep
Practice notes
ARCHIVED: This Practice Note has been archived and is not maintained. This Practice Note contains information on Finance Act 2017 (FA 2017) which...
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26th Sep
Practice notes
ARCHIVED: This Practice Note has been archived and is not maintained. This Practice Note draws together analysis on the key milestones of the 2016-17...
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26th Sep
Practice notes
This Practice Note draws together content on the fiscal events throughout the tax year 2018–19 starting with the release of draft provisions for...
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25th Sep

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