PAYE and the apprenticeship levy

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Latest Tax News

Loan broking structure fails to remove irrecoverable VAT cost (Wilmslow Financial Services plc (in administration) v HMRC)

The following Tax news provides comprehensive and up to date legal information on Loan broking structure fails to remove irrecoverable VAT cost (Wilmslow Financial Services plc (in administration) v HMRC)

Tax weekly highlights—21 January 2021

The following Tax news provides comprehensive and up to date legal information on Tax weekly highlights—21 January 2021

How to approach and interpret retained EU law—a practical guide

The following Employment news provides comprehensive and up to date legal information on How to approach and interpret retained EU law—a practical guide

Global Britain―proposals for the UK’s post-Brexit customs, VAT and excise regimes

The following Corporate news provides comprehensive and up to date legal information on Global Britain―proposals for the UK’s post-Brexit customs, VAT and excise regimes

Featured Tax content

SDLT—deeds of rectification

Stamp duty land tax (SDLT) ceased to apply to any land transaction involving any interests in or over land in Scotland from 1 April 2015. From that...

VAT—triangulation

Brexit: This Practice Note contains information on subjects impacted by the UK’s withdrawal from the EU. The Taxation (Cross-border Trade) Act 2018,...

Unilateral relief for foreign tax

Unilateral relief, like double tax relief, aims to relieve double taxation. Subject to certain conditions being satisfied and specific limits,...

Plant and machinery allowances—definition of plant and machinery

Plant and machinery allowances are the most widely used form of capital allowance. Plant and machinery is often (wrongly) interpreted as if the terms...

Practice notes

VAT on composite supplies

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...

Produced in partnership with Martin Shah and Gary Barnett of Simmons & Simmons LLP 12th Jan

Practice notes

Capital reduction demergers

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:...

Produced in partnership with Zoe Feller of Bird & Bird 12th Jan

Practice notes

Section 198 and 199 elections on transactions involving real estate

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...

Produced in partnership with Martin Wilson 12th Jan

Practice notes

FATCA in the UK—the UK:US Intergovernmental Agreement: an outline

Coronavirus (COVID-19): HMRC has stated in its International Manual that if a financial institution cannot meet the FATCA reporting deadline of 31 May...

Produced in partnership with Ali Kazimi and Chris Orchard of Hansuke Consulting Limited 12th Jan

In-house

Practice notes

Schemes of reconstruction defined

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...

9th Nov

Practice notes

What is a tax determination?

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...

Produced in partnership with Philip Rutherford 12th Jan

Practice notes

Direct tax treatment of damages and compensation payments

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...

9th Nov

Practice notes

VAT treatment of damages and compensation payments

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...

9th Nov

In-house

Practice notes

Types of lending

Overdrafts, term loans and revolving credit facilitiesThree common types of loan facility are:•overdrafts•term loans, and•revolving credit facilities...

9th Nov

Practice notes

EIS funds, including approved knowledge-intensive funds

The Enterprise Investment Scheme (EIS) is designed to encourage investment in smaller, higher-risk trading companies by offering a range of tax...

9th Nov

Practice notes

Property authorised investment funds (PAIFs)—summary

The regime for property authorised investment funds (PAIFs, or as HMRC use in regulations and their published guidance, Property AIFs)) was introduced...

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

Value shifting

The value shifting rules are anti-avoidance provisions. They are similar to the rules applying to depreciatory transactions in that they target the...

9th Nov

Precedents

Clause—tax gross up—commercial agreements

1 Withholding and grossing up 1.1 All sums payable under this [Agreement] by or on behalf of any party (for the...

9th Nov

Practice notes

Management buyouts—summary of tax issues for management

A management buyout, or MBO, involves the acquisition of a business by its existing management team usually with the help of private equity financing....

9th Nov

Practice notes

International movement of capital

The international movement of capital rules should be considered whenever:•any non-UK tax resident subsidiary (referred to in this note as a foreign...

9th Nov

Practice notes

Tax considerations on a loan agreement—the tax indemnity clause

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...

9th Nov

Most recent PAYE and the apprenticeship levy content

Practice notes

Employment tax implications of a TUPE transfer

Coronavirus (COVID-19) and TUPE transfers: the Coronavirus Job Retention Scheme (CJRS), which provides support to employers with a grant to enable...

20th Jan

Practice notes

PAYE compliance and RTI

Coronavirus (COVID-19): in light of the coronavirus crisis, the government announced the Coronavirus Job Retention Scheme (CJRS) to support the...

20th Jan

Practice notes

Expenses and benefits—payroll requirements

Coronavirus (COVID-19): HMRC has published guidance on how employers should treat certain expenses and benefits provided to employees during the...

15th Jan

Practice notes

PAYE—readily convertible assets, intermediaries and jurisdictional scope

Pay as you earn (PAYE) is the mechanism by which income tax (and National Insurance contributions (NICs) and certain other statutory deductions) must...

15th Jan

Practice notes

Scope of the PAYE system

The Pay As You Earn (PAYE) system is the means by which an employer or pension provider makes certain statutory deductions from an employee’s or...

15th Jan

Practice notes

HMRC's powers of PAYE tax recovery from an employee

In most circumstances, the pay as you earn (PAYE) rules require an employer to deduct tax and employee National Insurance contributions (NICs) from...

15th Jan

Practice notes

PAYE implications of employment-related securities

Pay as you earn (PAYE) is the mechanism by which income tax (and National Insurance contributions (NICs) and certain other statutory deductions) must...

15th Jan

Practice notes

Notional payments not made good—the section 222 charge

The income tax charges associated with employment-related securities and securities options typically arise upon acquisition of securities, or because...

15th Jan

Practice notes

PAYE settlement agreements

A PAYE settlement agreement (PSA) is a voluntary arrangement which allows an employer to settle, in a single annual payment, the income tax and...

15th Jan

Practice notes

Late payment penalties—PAYE, NICs and construction industry scheme

FORTHCOMING CHANGE: HMRC has consulted on the introduction of a new model that will replace the current late payment penalties with a hybrid regime of...

Produced in partnership with Philip Rutherford 15th Jan

Practice notes

PAYE implications of securities options

Pay as you earn (PAYE) is the mechanism by which income tax (and National Insurance contributions (NICs) and certain other statutory deductions) must...

15th Jan

Practice notes

Apprenticeship levy

This Practice Note sets out the details of the apprenticeship levy, which is payable by certain employers at a rate of 0.5% of the employer’s annual...

15th Jan

Q&As

What are the PAYE and NICs implications of a TUPE transfer?

When employees are transferred to a new business pursuant to a TUPE transfer, there will be numerous PAYE and national insurance contributions (NICs)...

29th Nov

PAYE and the apprenticeship levy

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Latest Tax News

Loan broking structure fails to remove irrecoverable VAT cost (Wilmslow Financial Services plc (in administration) v HMRC)

Tax weekly highlights—21 January 2021

How to approach and interpret retained EU law—a practical guide

Global Britain―proposals for the UK’s post-Brexit customs, VAT and excise regimes

Featured Tax content

SDLT—deeds of rectification

VAT—triangulation

Unilateral relief for foreign tax

Plant and machinery allowances—definition of plant and machinery

Most recent PAYE and the apprenticeship levy content

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Introduction to passing off

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