Plant and machinery allowances are the most widely used form of capital allowance. Plant and machinery is often (wrongly) interpreted as if the terms...
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...
It is standard market practice for loan agreements (also known as facility agreements), whether bilateral or syndicated, to:•prohibit a borrower from...
Coronavirus (COVID-19): HMRC has stated in its International Manual that if a financial institution cannot meet the FATCA reporting deadline of 31 May...
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...
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...
Overdrafts, term loans and revolving credit facilitiesThree common types of loan facility are:•overdrafts•term loans, and•revolving credit facilities...
The regime for property authorised investment funds (PAIFs, or as HMRC use in regulations and their published guidance, Property AIFs)) was introduced...
A management buyout, or MBO, involves the acquisition of a business by its existing management team usually with the help of private equity financing....
The international movement of capital rules should be considered whenever:•any non-UK tax resident subsidiary (referred to in this note as a foreign...
STOP PRESS (9/11/20): On 30 October 2020, HMRC published 11 guidance notes giving further details of eligibility for the Job Support Scheme (JSS) and...
ARCHIVED: This archived Practice Note is not maintained and is for background information only.UPDATE (5/11/20):The Chancellor of the Exchequer, Rishi...
Effective preparation of bundles is an essential element of a smooth, orderly hearing and something which practitioners should keep in clear focus as...
During the coronavirus (COVID-19) pandemic, the UK government announced a series of measures to support individuals and businesses that are adversely...
As a result of measures to slow down the spread of coronavirus (COVID-19), many countries including the UK are in lockdown. For employees, this often...
Government recommendations on social distancing, self-isolation in the case of sickness, and business closures has resulted in many typical business...
Any restrictions on travel imposed by the coronavirus (COVID-19) may impact on corporate tax residency if businesses do not take care to recognise the...
FORTHCOMING CHANGE: proposed temporary relaxation of the statutory residence test: On 9 April 2020, a letter from the Chancellor to the Chair of the...
This Q&A takes account of the HMRC guidance for employers: Claim for your employees' wages through the Coronavirus Job Retention Scheme as at 15 April...
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