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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
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
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
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
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
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
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
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 12th Jan
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
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
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 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: This Practice Note contains information on subjects impacted by the UK’s withdrawal from the EU. The Taxation (Cross-border Trade) Act 2018,...
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Produced in partnership with John Fuszard of Sagars Accountants Ltd 12th Jan
Practice notes
Stamp duty land tax (SDLT) ceased to apply to any land transaction involving any interests in or over land in Scotland from 1 April 2015. From that...
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9th Nov
Practice notes
FORTHCOMING CHANGE relating to property rich collective investment vehicles and certain investors: HMRC is consulting until 16 December 2020 on draft...
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9th Nov
Practice notes
Part 8 of the Corporation Tax Act 2009 (CTA 2009) is a specific corporation tax regime that applies exclusively to the gains and losses of intangible...
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Produced in partnership with Anne Fairpo of Temple Tax Chambers 12th Jan

Most recent Tax clauses content

Precedents
1Definitions and interpretation1.1In this Agreement, unless the context otherwise requires the following expressions shall have the following...
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Produced in partnership with Arun Birla of Paul Hastings, Hannah Gray of Paul Hastings and Abigail Hung of Paul Hastings 26th Apr
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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14th Apr
Precedents
1Deductions from payments and indemnity for tax deductions1.1[Subject to anything to the contrary in this Agreement,] the Company shall make all...
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Produced in partnership with Arun Birla of Paul Hastings, Hannah Gray of Paul Hastings and Miss Abigail Hung of Paul Hastings 25th Feb
Precedents
1Capital allowances—for use where the Seller has claimed plant and machinery allowances and the parties will enter into a s 198/s 199 election on...
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Produced in partnership with Martin Wilson 14th Feb
Precedents
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
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14th Feb
Precedents
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
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14th Feb
Precedents
1Capital allowances1.1In this clause 1:CAA 2001•means Capital Allowances Act 2001Fixtures•means those items forming part of the Tenant’s Works which...
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Produced in partnership with Martin Wilson 14th Feb
Precedents
1Compliance1.1ReturnsThe Company has duly and properly submitted all [material] computations and returns (including all land transaction returns),...
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5th Feb
Precedents
1 VAT 1.1 Definitions In this clause: HMRC means HM Revenue and Customs VAT means United Kingdom value...
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8th Jan
Precedents
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
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17th Dec
Precedents
Definitions Deferred SDLT has the meaning as set out in clause [insert number] HMRC Her Majesty’s Revenue and...
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26th Sep
Precedents
1 Redemption and purchase 1.1 Redemption for tax reasons The Bonds may be redeemed at the option of the Issuer in...
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26th Sep
Precedents
United Kingdom Taxation Certain UK tax considerations The following statements, which are intended as a general guide only[ and...
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26th Sep
Precedents
United Kingdom Taxation General The following paragraphs, which are intended as a general guide only [and not a substitute for...
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26th Sep
Precedents
1 VAT 1.1 Unless otherwise stated in this Agreement: 1.1.1 all references in this Agreement to the...
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26th Sep
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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26th Sep
Precedents
1 Authority of directors The business of the company shall be managed by the directors, who may exercise all such powers of...
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26th Sep
Precedents
[11.9] Each Manager and any Permitted Transferee (other than an associated person as defined in section 421C of the Income Tax...
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26th Sep
Precedents
Add new Article 14 as follows: 1 Conversion into Deferred Shares 1.1 In this Article 14, unless the context otherwise...
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26th Sep

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