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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 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
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
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
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
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
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 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 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

Most recent Companies and corporation tax content

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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26th Jan
Practice notes
A ‘loan relationship’ is defined as a money debt arising from the lending of money. However, this definition does not reflect all the types of...
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26th Jan
Practice notes
A ‘loan relationship’ is defined as a money debt arising from the lending of money. However, this definition does not reflect all the types of...
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26th 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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26th Jan
Practice notes
This Practice Note is about the rules that can impose a charge to tax on UK persons holding interests in a non-UK resident company if that company...
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22nd Jan
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
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
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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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
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
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 company’s share capital comprises the number of shares it has issued and allotted to shareholders at any given time. This Practice Note considers...
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18th Jan
Practice notes
What is a B share scheme and why is it used?A B share scheme is one method used by UK companies to return excess capital to shareholders. It is used...
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Produced in partnership with Glafkos Tombolis 18th Jan
Practice notes
Sources of partnership lawThe main body of law governing a general partnership formed under English law (as opposed to a limited liability...
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18th Jan
Practice notes
Sources of limited partnership lawThe main body of law governing a limited partnership formed under English law (as opposed to a general partnership,...
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18th Jan
Practice notes
The acquisition of a company or business and assets in the context of a private equity buyout, while similar to a standard acquisition in many...
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18th Jan
Practice notes
A business can be acquired by one of two methods: an asset purchase or a share purchase. The two types of transaction are fundamentally different in...
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18th Jan
Practice notes
A dividend is a type of distribution made by a company to its members. n relation to the law and practice relating to distributions made by a company,...
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18th Jan

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