Navigating the complexities of taxation for companies and corporations is crucial for ensuring compliance and optimising financial strategy. Stay on top of the latest regulations, understand key legislative changes, and discover practical approaches to managing corporate tax affairs effectively. Access expert insights tailored for legal practitioners who deal with the intricate landscape of company taxation, enabling you to provide precise and informed counsel to your clients.
Tax analysis: In British Institute of Technology Ltd v HMRC, the First-tier Tax Tribunal (FTT) refused HMRC’s application to strike out appeals...
Tax analysis: In Krason v HMRC, the First-Tier Tax Tribunal (FTT) cancelled penalties for inaccuracies in relation to a remuneration trust scheme. As...
Tax analysis: In Jonathan Nuttall and another v HMRC, the First-tier Tax Tribunal (FTT) allowed the taxpayers’ appeals against landfill tax...
This week's edition of Tax weekly highlights includes: (1) the FTT’s decision in PGMOL, (2) HMRC’s latest Stakeholder Digest, and (3) new guidance on...
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) enables a borrower to apply for and...
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...
Priority between loss reliefs in loss making companiesWhy does it matter?A company that is a member of a group and has incurred any of the types of losses available for surrender by way of group relief may, without any further rules, have more than one way in which to use the loss. There are a
Capital allowances and connected personsProvisions exist to ensure, generally, that assets may not be transferred between connected persons in such a way as to accelerate capital allowances by means of the annual investment allowance or first-year allowances, or in such a way as to artificially
What are capital allowances and capital expenditure?What are capital allowances?Capital allowances are the means by which tax relief is given for some (but not all) capital expenditure. They are effectively a standardised tax-deductible version of depreciation or amortisation broadly intended to
Distribution key concepts—repayment of capitalAlongside the concept of new consideration, which is further explained in Distribution key concepts—new consideration, the concept of repayment of capital is vital in determining whether certain transactions are distributions.At the broadest level the
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