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PAYE and the apprenticeship levy

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Latest Tax News

FTT allows unilateral credit for US withholding tax when treaty relief did not apply (Aozora GMAC Investments v HMRC)

FTT allows unilateral credit for US withholding tax when treaty relief did not apply (Aozora GMAC Investments v HMRC)

The following Private Client news provides comprehensive and up to date legal information on FTT allows unilateral credit for US withholding tax when treaty relief did not apply (Aozora GMAC Investments v HMRC)

SDLT—annuity did not prevent market value rule applying (M&M Builders v HMRC)

SDLT—annuity did not prevent market value rule applying (M&M Builders v HMRC)

The following Private Client news provides comprehensive and up to date legal information on SDLT—annuity did not prevent market value rule applying (M&M Builders v HMRC)

Tax weekly highlights—6 May 2021

Tax weekly highlights—6 May 2021

The following Tax news provides comprehensive and up to date legal information on Tax weekly highlights—6 May 2021

Danish Tax Authority faces jurisdictional barrier in withholding tax claim (Skatteforvaltningen v Solo Capital Partners)

Danish Tax Authority faces jurisdictional barrier in withholding tax claim (Skatteforvaltningen v Solo Capital Partners)

The following Tax news provides comprehensive and up to date legal information on Danish Tax Authority faces jurisdictional barrier in withholding tax claim (Skatteforvaltningen v Solo Capital Partners)

Featured Tax content

Tax considerations on a loan agreement—the tax indemnity clause

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...

Management buyouts—summary of tax issues for management

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....

Value shifting

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...

Property authorised investment funds (PAIFs)—summary

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...

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...
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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...
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9th Nov
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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...
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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...
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Produced in partnership with Philip Rutherford 12th Jan
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...
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9th Nov
Practice notes

Tax considerations on a loan agreement—the tax gross up clause

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

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:...
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Produced in partnership with Zoe Feller of Bird & Bird 12th Jan
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 sale of all the shares...
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9th Nov
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...
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Produced in partnership with Martin Shah and Gary Barnett of Simmons & Simmons LLP 12th Jan
Practice notes

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...
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Produced in partnership with Martin Wilson 12th Jan
Practice notes

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,...
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9th Nov
Practice notes

Bank levy

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

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,...
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Produced in partnership with John Fuszard of Sagars Accountants Ltd 12th Jan
Practice notes

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...
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9th Nov
Practice notes

Property holding structures—direct tax treatment of a Jersey property unit trust (JPUT)

FORTHCOMING CHANGE relating to property rich collective investment vehicles and certain investors: HMRC is consulting until 16 December 2020 on draft...
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9th Nov
Practice notes

What is an intangible fixed asset?

Part 8 of the Corporation Tax Act 2009 (CTA 2009) is a specific corporation tax regime that applies exclusively to the gains and losses of intangible...
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Produced in partnership with Anne Fairpo of Temple Tax Chambers 12th Jan

Most recent PAYE and the apprenticeship levy content

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...
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12th Apr
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...
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9th Apr
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...
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9th Apr
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...
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9th Apr
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...
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9th Apr
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...
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9th Apr
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...
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9th Apr
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...
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9th Apr
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...
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9th Apr
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...
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9th Apr
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...
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9th Apr
Practice notes

Late payment penalties—PAYE, NICs and construction industry scheme

This Practice Note is about the penalty regime in the Finance Act 2009 (FA 2009) for the late payment of:•income tax and Class 1 NICs via pay as you...
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Produced in partnership with Philip Rutherford 8th Apr
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)...
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29th Nov

Popular documents

What is practical completion?

What is practical completion?

Practical completion marks the end of the construction period of a project, when the works are 'finished' and the employer can occupy and/or use them. Practical completion also typically marks the start of the defects liability period/maintenance period.As explained below, practical completion is an

Rescission of a contract

Rescission of a contract

What is rescission of a contract?The remedy of rescission is available to a party whose consent, in entering into a contract, has been invalidated in some way:•the effect of rescinding a contract is to extinguish it and restore the parties to their pre-contractual positions•the main grounds of

Notaries and notarisation—notarisation

Notaries and notarisation—notarisation

The principles of the notarial act are that it is:•an act of the notary and not of the parties named in the document•a record of a fact, event or transaction•in the form of a document, notwithstanding the form of the underlying document, fact, event or transactionThe purpose of the notarial act is

Qualified one-way costs shifting (QOCS)

Qualified one-way costs shifting (QOCS)

What is QOCS?Qualified one-way costs shifting (QOCS) was introduced on 1 April 2013 as part of the Jackson costs reforms following the removal of a claimant’s right to recover additional liabilities from the defendant, ie success fees and after the event (ATE) insurance premiums. The relevant CPR