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 Nimbus: The Disability Consultancy Service Limited v HMRC, the First-Tier Tax Tribunal (FTT) found in favour of the taxpayer in that...
The Prudential Regulation Authority has published final policy, rules, and supervisory expectations implementing Basel 3.1 and setting the capital...
Tax analysis: In R (on the application of Peter Kadas), the High Court granted the claimant permission to pursue a judicial review against HMRC’s...
Tax analysis: In O’Neil and others v HMRC, the Upper Tribunal (UT) dismissed the appeals of three individuals against discovery assessments charging...
This week's edition of Tax weekly highlights includes: (1) News Analyses on the FTT’s decisions in Ripe Ltd and Littlewoods, (2) the UK’s double tax...
Latest Tax Practice Notes
Introduction to the EU GDPR and UK GDPRThis Practice Note provides an introduction to both the EU’s General Data Protection Regulation, Regulation...
Patent box streaming calculation—grandfathered rules [Archived]ARCHIVED:The rules described in this archived Practice Note apply to companies that...
Registration of pension schemesBenefits of registrationRegistration provides advantageous tax reliefs and exemptions for a pension scheme and its...
Tax treatment of pension overpaymentsPension schemes sometimes make payments to members that are not in accordance with scheme rules or that may...
Employment-related securities, securities options and capital gains taxEmployment-related securities and securities optionsThe definition of an...
Latest Tax Precedents
Loan note instrument—takeover—loan note alternativeThis Loan Note Instrument is made on [insert day and month] 20[insert year]by1[insert name of...
Loan note instrument—buyout—managers£[insert number][insert rate]% [subordinated ]redeemable loan notes20[insert year][insert name of Issuer]This...
Loan note instrument—private M&A—share purchaseThis Instrument is dated [insert date] 20[insert year]Parties1[Insert name of issuing company]...
Anti-tax evasion facilitation clause—pro-customer1Anti-tax evasion facilitation1.1For the purposes of this clause 1:1.1.1the expressions ‘Associated...
Settlement agreement (employment)This Agreement is made on [insert date or leave date blank] Parties1[Insert Employer’s name] whose registered office...
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
Entrepreneurs’ relief
A capital gains tax relief (also called ER) to encourage individuals to set up and expand their own businesses. Where conditions are satisfied, a reduced rate of capital gains tax applies to the sale of certain business assets but there is a lifetime limit per individual.
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.
Self-supply
Where a supply is made both by a business in the course or furtherance of it and to the same business for the purpose of that business.
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