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 Bunting v HMRC, the Court of Appeal rejected the taxpayer’s appeal, holding that capital gains tax (CGT) relief for a loan to a...
Tax analysis: In Brants Bridge Ltd and Braccans Ltd v HMRC, the First-tier Tax Tribunal (FTT) dismissed appeals against HMRC’s refusal to relieve the...
Tax analysis: In the First-Tier Tx Tribunal (FTT) dismissed an appeal against HMRC’s refusal of multiple dwellings relief (MDR) on the purchase of a...
Tax analysis: In John Smith v HMRC, the Upper Tribunal (UT) held that all the taxpayer’s 21 grounds of appeal were totally without merit, effectively...
This week's edition of Tax weekly highlights includes: (1) News Analyses of the FTT decisions in The Nigel Blackwell Family Trust & Ors v HMRC...
Latest Tax Practice Notes
This Practice Note considers general partnerships formed under the Partnership Act 1890. It describes the principal legislation and cases that form...
A company within a group can, in certain circumstances, surrender a tax refund which is due to it to another member of that group. It can be to the...
Exemption from SDLT can be claimed for land transactions between bodies corporate which are members of the same group for SDLT purposes at the...
Audiovisual expenditure credit (AVEC) schemeThe audiovisual expenditure credit (AVEC) scheme provides expenditure credits for qualifying British films...
This Practice Note:•outlines the main UK tax provisions that apply where a fixed charge receiver sells assets owned by a company, and•answers the...
Latest Tax Precedents
FORTHCOMING CHANGE relating to the modernisation of stamp taxes on shares framework: Stamp duty and SDRT will, in 2027, be replaced with a single,...
This Agreement is made on [insert day and month] 20[insert year]Parties1[Insert name of selling corporate shareholder] incorporated in [England and...
This Agreement is made on [insert day and month] 20[insert year]Parties1[Insert name of selling corporate entity] incorporated in [England and Wales...
FORTHCOMING CHANGE relating to the modernisation of stamp taxes on shares framework: Stamp duty and SDRT will, in 2027, be replaced with a single,...
1Anti-tax evasion facilitation1.1For the purposes of this clause 1:1.1.1the expressions ‘Associated With’, ‘Prevention Procedures’, ‘UK Tax Evasion...
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
Margin scheme
This allows a trader to account for VAT by reference to his profit margin rather than by reference to the consideration for the supply.
Secondary buyout (SBO)
A common exit strategy. This type of buyout happens when an investment firm’s holding in a private company is sold to another investment firm. For example, one private equity firm might sell its stake in a private company to another private equity firm.
Treasury regulations
Treasury regulations are detailed rules issued by a government’s finance ministry to give practical effect to primary tax and public finance legislation. In UK practice, the term usually refers to regulations made by HM Treasury (and, in tax, often by HMRC under delegated powers) which set out how statutory tax provisions, financial sanctions, public spending controls or financial services frameworks operate in practice. They are a form of secondary (delegated) legislation, made under specific enabling Acts and interpreted in accordance with ordinary statutory interpretation principles.
In Ireland, the closest equivalents are regulations or statutory instruments made by the Minister for Finance or Minister for Public Expenditure, sometimes informally described as Treasury‑type regulations, performing the same implementing and administrative function.
Across England and Wales, Scotland and Northern Ireland, Treasury regulations are widely relied upon in tax planning, compliance, financial regulation, state aid/subsidy control, sanctions and public sector finance. They are binding, subject to judicial review and parliamentary or Oireachtas scrutiny, and must be read alongside the parent statute, related guidance and relevant case law to understand the full legal position.
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