Brexit and tax

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Practice notes
VAT on composite suppliesSingle composite supplies vs multiple suppliesWhere a supply comprises a number of different elements with varying VAT...
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Produced in partnership with Martin Shah and Gary Barnett of Simmons & Simmons LLP 19th May
Practice notes
Commercial service charges—VAT implicationsThis Practice Note is about the VAT treatment of non-residential service charges. General positionService...
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Produced in partnership with Martin Scammell 19th May
Practice notes
Offshore receipts in respect of intangible property (ORIP)Since 6 April 2019, a person that is neither UK tax resident nor resident in a full treaty...
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19th May
Practice notes
FATCA in the UK—the UK:US Intergovernmental Agreement: an outlineIP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit...
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Produced in partnership with Ali Kazimi and Chris Orchard of Hansuke Consulting Limited 19th May
Practice notes
Tax considerations on a loan agreement—the tax gross up clauseIP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit...
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Produced in partnership with Eloise Walker of Pinsent Masons 19th May
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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19th May
Practice notes
Taxation of UK LLPsA UK limited liability partnership (LLP) is a body corporate for company law purposes, but is generally taxed as though it were a...
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19th May
Practice notes
Section 198 and 199 elections on transactions involving real estateThis Practice Note describes the law and practice relating to elections under...
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Produced in partnership with Martin Wilson 19th May
Practice notes
Loan capital exemption from stamp dutyDebt which:•qualifies as loan capital (whether it is short or long-term debt), and•satisfies further conditions...
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19th May
Practice notes
The Budget and Finance Bill processThe Budget is a Parliamentary event at which the Chancellor of the Exchequer makes important announcements relating...
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19th May
Practice notes
Capital reduction demergersThe reasons why a company might carry out a demerger, and the different ways in which a demerger may be structured, are...
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Produced in partnership with Zoe Feller of Bird & Bird 19th May
Q&As
Corporate redomiciliation—can a non-UK company redomicile into the UK?It is possible for a non-UK incorporated company to redomicile to the UK....
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19th May
Practice notes
Why have a tax covenant?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...
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19th May
Practice notes
R&D capital allowancesFORTHCOMING CHANGE: At Spring Budget 2021, the government announced a wide-ranging review of research and development (R&D)...
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Produced in partnership with Anne Fairpo of Temple Tax Chambers 19th May
Practice notes
Transfer of a trade under common ownershipSometimes the restructuring of a business will involve a company transferring an existing trade to a...
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19th May
Practice notes
SDLT group reliefFORTHCOMING CHANGE relating to FA 2008, Sch 36: In its Tax Information and Impact Note (TIIN) on freeports, the government announced...
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19th May

Most recent Brexit and tax content

Practice notes
Brexit legislation trackerThis Practice Note tracks the progress of UK legislation introduced as part of the legislative project associated with the...
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17th Sep
Practice notes
Brexit—alternative UK trade models [Archived]ARCHIVED: This Practice Note has been archived and is not maintained.As of 31 January 2020 (exit day),...
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Produced in partnership with Adam Cygan of University of Leicester 15th Sep
Practice notes
Brexit timelineOn 23 June 2016, the UK held a referendum on its membership of the EU, with a majority voting in favour of the UK leaving the EU. On 29...
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15th Sep
Practice notes
Brexit—introduction to the Withdrawal AgreementThe UK’s formal withdrawal from the EU took effect at 11 pm on 31 January 2020 (exit day). At this...
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Produced in partnership with Kieran Laird of Gowling WLG 8th Sep
Practice notes
What does IP completion day mean for Tax?As of exit day (11 pm on 31 January 2020), the UK ceased to be an EU Member State and no longer participates...
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22nd Aug
Q&As
Will the VAT Directive still be relevant for UK taxpayers once the Brexit implementation period is over?In order to answer this question it is...
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16th Aug
Q&As
What is the impact of Brexit on the drafting of tax covenants and warranties?At the moment, none.Brexit may eventually alter the way in which tax...
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Produced in partnership with Patrick Ford of Squire Patton Boggs 16th Aug
Q&As
Brexit: Can UK businesses now ignore the proposed EU financial transactions tax?There are two schools of thought on how Brexit may prevent the...
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Produced in partnership with Hilary Barclay of Burges Salmon 16th Aug
Q&As
If we amend a loan agreement in order to deal with post-Brexit withholding concerns, do we risk losing our FATCA grandfathering?Any material amendment...
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Produced in partnership with Ronnie Brown of Burness Paull 16th Aug
Q&As
What is the impact of a potential Brexit on the tax drafting in loan agreements?None, provided the loan agreement is in Loan Market Association (LMA)...
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Produced in partnership with Eloise Walker of Pinsent Masons 16th Aug
Practice notes
Brexit—UK tax consequencesThis Practice Note sets out the areas of UK tax law that are affected by the UK's exit from the European Union (EU) (Brexit)...
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15th Aug
Practice notes
Brexit and tax—the continued application of EU lawThis Practice Note is about the extent to which EU law continues to apply to the UK’s tax rules...
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15th Aug
Practice notes
Brexit legislation tracker 2017–19 [Archived]ARCHIVED: This Practice Note has been archived and is not maintained. It tracks the progress of UK...
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12th Aug
Practice notes
Brexit—key legislation explainedBackground—EU law in the UKPre-exit dayThe European Communities Act 1972 (ECA 1972) was introduced and intended to...
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Produced in partnership with Dr. Kieran Laird of Gowling WLG 12th Aug
Practice notes
Introduction to retained EU lawThis Practice Note provides an introduction to retained EU law. It provides an overview of the key definitions and...
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Produced in partnership with Dr. Kieran Laird of Gowling WLG 12th Aug
Precedents
Retained EU law—training materialsThese training materials consist of template PowerPoint slides that can be used as the basis of one or more training...
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12th Aug
Q&As
What is retained EU law?Retained EU law is a legal concept describing EU-derived legislation, rights and principles the UK plans to preserve in UK law...
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Produced in partnership with Mathias Cheung of Atkin Chambers 12th Aug
Q&As
In the context of Brexit, what is meant by the ‘transition or implementation period’?The term ‘transition or implementation period’ is used in the...
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12th Aug
Q&As
What are the implications for trading in goods with the EU27 if the UK trades on World Trade Organization rules in the event of a ‘no deal’ outcome in...
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11th Aug
Q&As
What is the impact of Brexit on the VAT and Customs status of cross-border supplies of goods?As with most aspects of Brexit, we are yet to ascertain...
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Produced in partnership with Andrew Rimmer of BVC Associates Ltd 31st Jul

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