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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
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 Martin Shah and Gary Barnett of Simmons & Simmons LLP 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
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
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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Produced in partnership with Martin Wilson 12th Jan
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
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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Produced in partnership with Ali Kazimi and Chris Orchard of Hansuke Consulting Limited 12th Jan
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
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
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
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
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
The value shifting rules are anti-avoidance provisions. They are similar to the rules applying to depreciatory transactions in that they target the...
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9th Nov
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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9th Nov
Practice notes
The international movement of capital rules should be considered whenever:•any non-UK tax resident subsidiary (referred to in this note as a foreign...
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9th Nov
Practice notes
This Practice Note:•explains:◦the purpose of the tax indemnity clause that is normally found in a loan agreement, and◦that the standard drafting of...
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9th Nov

Most recent Companies and corporation tax content

Practice notes
This Practice Note focuses on the key aspects of open offers and the matters that require consideration when an open offer is being carried out by a...
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Produced in partnership with James Ufland of Slaughter and May and Chris McGaffin of Slaughter and May 21st Jan
Practice notes
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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Produced in partnership with Anne Fairpo of Temple Tax Chambers 21st Jan
Practice notes
The loan relationships regime provides the rules for the taxation and relief of a company’s profits and losses from its ‘loan relationships’. The...
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20th Jan
Practice notes
FORTHCOMING CHANGE relating to property rich collective investment vehicles and certain investors: HMRC consulted until 16 December 2020 on draft...
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20th Jan
Practice notes
This Practice Notice focuses on the two segments of the UK listing regime (standard and premium). It details the general listing requirements (for...
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19th Jan
Practice notes
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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19th Jan
Practice notes
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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18th Jan
Practice notes
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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18th Jan
Practice notes
A company is UK tax resident if it is:•incorporated in the UK (subject to exceptions), or•centrally managed and controlled in the UKprovided it is not...
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18th Jan
Practice notes
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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18th Jan
Practice notes
A foundational principle of the loan relationships regime is that the profits and losses to be brought into account for corporation tax purposes on a...
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18th Jan
Practice notes
Specific rules exist within the loan relationships regime in Part 5 of the Corporation Tax Act 2009 (CTA 2009) for loan relationships between...
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18th Jan
Practice notes
This Practice Note focuses on the key legal considerations when a rights issue is being carried out by a company either:•admitted to listing on the...
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Produced in partnership with James Ufland of Slaughter and May and Chris McGaffin of Slaughter and May 18th Jan
Practice notes
Coronavirus (COVID-19): Following the COVID-19 outbreak, some Companies House filing and other administrative procedures have been temporarily...
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18th Jan
Practice notes
Warranty and indemnity (W&I) insurance may be used in private company sale and purchase transactions (whether structured as a share purchase or asset...
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Produced in partnership with Mary Duffy of AIG 18th Jan
Practice notes
The buyer may fund the acquisition by way of:•cash: from its internal cash resources (or those of its parent or other group company)•debt financing:...
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18th Jan
Practice notes
This Practice Note looks at the underwriting of an offer of shares by a public limited company, including how an underwriting is documented, the...
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Produced in partnership with James Ufland of Slaughter and May and Chris McGaffin of Slaughter and May 18th Jan
Practice notes
A limited liability partnership (LLP) is not a partnership but a body corporate that is formed under the Limited Liability Partnerships Act 2000 (LLPA...
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18th Jan
Practice notes
A person wishing to set up a new company has the following options:•they can incorporate a new company in accordance with the Companies Act 2006 (CA...
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18th Jan
Practice notes
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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18th Jan

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