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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 and Martin Shah 27th Oct
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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13th Oct
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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12th Oct
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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28th Sep
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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27th Sep
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 26th Sep
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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26th Sep
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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26th Sep
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 26th Sep
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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25th Sep
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 25th Sep
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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25th Sep
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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25th Sep
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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25th Sep
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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25th Sep
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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25th Sep

Most recent Clause bank for tax lawyers content

Precedents
1Construction Industry Scheme—for use where the landlord’s contribution is a reverse premiumThe Landlord and Tenant acknowledge that the Landlord’s...
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2nd Sep
Precedents
1 Jurisdiction—reciprocal The parties irrevocably agree that the courts of [England and Wales OR [insert details of...
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26th Sep
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...
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26th Sep
Precedents
1 Severance ...
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26th Sep
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This Agreement is made on [date] Parties 1 [insert name of party] [of OR trading as [insert trading name] of OR a firm whos...
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26th Sep
Precedents
Month means a calendar month; Close This is a suggested definition for the term 'month', which...
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26th Sep
Precedents
holding company 26th Sep
Precedents
Confidential Information—mutual ‘Confidential Information’ means all information of a confidential nature (in whatever form)...
26th Sep
Precedents
1 Language—long form 1.1 This Agreement is made in [the English language O...
26th Sep
Precedents
Option 1—contract signed by individual attorney Signed by [insert name of individual attorney] as attorney for [insert name of...
26th Sep
Precedents
...
26th Sep
Precedents
1 Definitions and interpretation 1.1 In this Agreement: Affiliate means any entity that directly or...
26th Sep
Precedents
1 Rights and remedies ...
26th Sep
Precedents
Coronavirus (COVID-19): In addition to the below content on force majeure generally, see also: • Coronavirus (COVID-19)...
26th Sep
Precedents
1 Set-off permitted by either party Each party may set off any amount that the other party owes it under this agreement[ or...
26th Sep
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...
26th Sep
Precedents
Day means a period of 24 consecutive hours [ending at midnight OR starting at [insert time]]; ...
26th Sep
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...
26th Sep
Precedents
1 Rights of third parties (third party rights excluded, save as specifically provided) 1.1 [Except as [provided in...
26th Sep
Precedents
1 Entire agreement—short form 1.1 This agreement[ and [any documents entered into pursuant to it OR [insert name[s] of...
26th Sep

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