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Practice notes
FORTHCOMING CHANGE: HMRC is consulting (13 July to 10 August 2020) on draft regulations to provide a deduction from a UK entity’s equity and...
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Produced in partnership with Charlotte Sallabank of Katten Muchin Rosenman UK LLP 12th Jan
Practice notes
Unilateral relief, like double tax relief, aims to relieve double taxation. Subject to certain conditions being satisfied and specific limits,...
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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 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
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
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 of Simmons & Simmons LLP based on material originally written by Charles Goddard of Rosetta Tax LLP 12th Jan
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 Budgets and Finance Bills content

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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16th Apr
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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9th Apr
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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9th Apr
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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9th Apr
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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9th Apr
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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9th Apr
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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9th Apr
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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9th Apr
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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9th Apr
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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9th Apr
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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9th Apr
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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9th Apr
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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9th Apr
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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9th Apr
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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9th Apr
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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9th Apr
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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9th Apr
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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1st Apr
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

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